To The Moon

Tech behemoths $Apple(AAPL)$   and $Microsoft(MSFT)$   have been trading ranks with Nvidia for the most valuable listed company for which the throne has been changing hands among the trio.

With artificial intelligence gaining traction and becoming ubiquitous, it is difficult to identify a tech company that does not have a foot in AI that has since become the latest growth engine for the big techs including $Taiwan Semiconductor Manufacturing(TSM)$  , $Advanced Micro Devices(AMD)$  and $Meta Platforms, Inc.(META)$  .

Being growth stocks, their price movements are highly sensitive to interest rates and their stock prices have been inflated by expectations on rate cuts this year. From hard-landing to soft-landing, the market is now increasingly betting on no-landing. Mild recession risks have not dimmed optimism on the tech stocks, as technology is increasingly perceived as being defensive needs like utility. In fact, some analysts believe that businesses will consider layoff before trimming their spendings on cloud computing and AI in cost-cutting measures, lest their productivity fall and they lose competitiveness to their peers.

Hence, I would stay invested in the big techs and look for opportunities to accumulate on price weaknesses when they present.