It really feels like semis are the only industry that is exploding in growth over the last few months.
In my opinion it feels like a blow off top, how sustainable is this growth? In a historically cyclical industry there eventually has to be a slowdown.
12% of the S&P 500 is made up of semiconductor companies! I think it’s an amazing industry, but this is starting to feel like a house of cards in my opinion. The entire AI narrative is reliant on companies to continue their capex and buy new chips every year. Once that stops then what does the AI narrative look like?