Feels like every other post here calls the AI bubble, yet NVDA and the hyperscalers keep making new highs.
I think the reason nobody's panic-selling is that nobody can afford to. Fund managers who sell and turn out to be early lose their jobs, so they hold and hope to get out in time. Meanwhile, passive index money buys these stocks every month whatever the price, so a huge chunk of the market never decides to sell at all. And every dip since 2020 has been bought, so retail has learned that panicking is the losing move.
My guess is it won't pop until the money behind it changes. Right now it's mostly paid for out of Big Tech's cash flow, and that's hard to break. Once it shifts to debt, that's when I'd get nervous.
Curious where everyone actually stands. Are you still holding, and what would make you sell?