Love to see it
$PLTR CEO: "Our overall business generated more than $1 billion in revenue for the second quarter of the year, a stunning 48% increase over the same period the year before, as we reach an annual run rate of more than four billion dollars."
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Microsoft's, $MSFT, recent layoffs came after their jobs were replaced by artificial intelligence, per YF
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The past few reports there’s been one outlier that sets the expectations high
$amzn huge pop on split
$nflx huge dump
$meta huge dump
$Nvda huge rip
Once it happens everyone starts gambling looking for next er play to go 10000% , and option makers cook smooth brains.
Thus far $tsla / $nflx havnt started tech move either way…..unless this is the trend this season. Mixed reports / flat moves and btd ppl try to get in on what they missed out on thus far. Are valuations now to high in s/t. If so I expect defensives / cyclical names to get tagged in rotation out of mega cap tech and into lagging boomer stocks.
I still think one of these faang names moves well outside the implied and that suite will carry over into rest of the ers after it this season. My Guess would be Meta
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POWELL: WE HAVE MANY UNUSUAL FACTORS AFFECTING INFLATION AND DON'T THINK ANYONE KNOWS HOW THIS IS GOING TO PLAY OUT
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Continuing my series of "breadth charts confirming a corrective phase" here is the Bullish Percent Index for the $NDX. Break below 70 has identified pretty much every major drawdown over the last 12 months. Not bullish.
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Over the past 12 days, hedge funds covered more US Tech shorts than at any point in the last decade (except meme blow up Jan 21)
With the cover bid gone, underperformance is now likely for the sector
