The emphasis seems to be moving away from apps, devices, innovation that can either solve a need or just be "cool" for a certain demographic of technology adoptors, and towards "Bigger is Better!".
As the FAANG stocks all try to vie for the largest market cap...in history! companies are acquiring other businesses to stay relevant.
Apple CEO Tim Cook claimed, straight-faced, that Apple had no dominant position in anything they did (outrageous) at a recent inquiry of several top tier technology companies. Meanwhile, Microsoft acquires Tik Tok.
This reminds me of my career in the gold industry. Early in my career, I learned the two behemoths, Barrick Gold and Newmont Gold, would bask in the slightest of relative share price performances. That is, no matter what was happening to either company, as long as one CEO walked by the bloomberg terminal and saw his share price than the other, there was order in the universe. It did not matter if costs were rising, capital expenditures had blown out, a mine was shutdown by a government, grades were decreasing, gold prices were decreasing, departures of key management, analyst downgrades, reduced guidance, etc.
If this is the trend, it is time to take profits in Big Tech, buying puts or outright sell everything, I am looking at out of the money puts, with a one week expiry, ahead of a long weekend preferably.
More to report later...
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