As far as I am concerned, we are undoubtedly living in another dot com bubble.
The current dot com bubble is driven by Artificial Intelligence, AI and cloud computing.
Only in the last trailing 7 days both Microsoft and Amazon reported significant slowdown in their cloud computing businesses, which are largely driven by AI.
Yesterday Apple Inc announced its first quarter with falling revenue in years, driven predominantly by falling iPhone sales. And iPhones and smartphone in general are the ubiquitous vehicle of cloud computing and artificial intelligence.
Anyway one looks it, both information technology services and IT physical products are luxury goods, not food, water and may be gas, without which corporations and people will face great difficulties living their day to day lives.
I estimate technology stocks are still overvalued by 45 % + on average, also taking into account the recent bull market rally of the Nasdaq Composite.
Both Artificial intelligence and cloud computing feed on large amounts of data, big data in the current IT slang to do their magic. And in difficult and war times like today, information is more scarce than ever.
Positively viewed, after the current tumult, most probably the next Google owned by Alphabet, Amazon or Facebook owned by Meta will be born.
For the next couple of years though, volatility seems assured.
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