MarketSurge powers the charts in this video.
Antropic filed for an IPO, which is accelerating the trend in many AI stocks. Memory – MU, SNDK, WDC; semis – ARM, MRVL, INTC, AMD; servers – DELL, AI data centers – NBIS, CRWV have been on epic runs. Going parabolic ahead of a widely expected event typically leads to sell-the-news action. If you are riding a hot trend, you know that it will likely give back 10-20% of its gains when it reverses and stops you out.
The rally in tech is not just about semiconductors anymore. Quite a few software stocks crushed earnings estimates this quarter and embarked on their own epic run – DDOG, TWLO, CRWD, FTNT, etc. It was always clear that not all software stocks are going to be disrupted by AI, but there was a period when the market sold anything software. Not that it is coming back to its senses, it is separating the potential winners from the losers in the space.
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