To say it’s been a rough week for the magnificent seven would be an understatement. What mystifies many of these tech stocks’ most optimistic watchers is that the selling came after a stellar quarterly report from Nvidia.
“Our base case is that the bubble in AI hasn’t burst,” Capital Economics’ John Higgins said in a note. Yet, while he thinks the bubble has another year or so to inflate, “it isn’t out of the question that it is starting to burst now”.
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Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com
