Believe it or not, as far back as 2016, the contrarian position in tech was to remain a bull.
What kind of articles he is reading? Till now, all I read is buy tech, buy tech, buy tech.
Furthermore, we are seeing companies within cloud grow YoY revenues at rates that are historical records. For example, in recent reports: Shopify grew YoY revenue by 110.4%, Zoom by 191.4% (this is after 3 consecutive quarters of greater than 350% growth), Snowflake grew by 110% and Crowdstrike grew by 70%.
Funny. These are in my short list to buy as much as $100k.
“My prediction is this may be one of the last cycles when tech is considered less safe than value stocks. As the market will find out (the hard way), cloud software is actually very safe. It is insulated from trade wars and overseas manufacturing issues. It reduces costs for enterprises, which is ideal for a recession.”
Just like in late 2016, we are seeing an abundance of analysts suggesting that the major top is in or we are close. This would be followed by a major and protracted bear market.
Not what I have read. Most analysts are predicting uber bull market for many years. There are two type of articles going around? Or we live in different world?