written by reader What happened to Tech on Friday

By backoffice, June 12, 2017

$AMD, $STM, $NVDA, $SHOP all took a hit?

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Upendra
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Upendra
June 12, 2017 2:31 pm

is STM the company which promises to be the next “A Technology Projected to Surge $19 Trillion” according to Eagle Financial Report…?

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Travis Johnson, Stock Gumshoe
June 12, 2017 2:42 pm
Reply to  Upendra

Haven’t seen that from Eagle Financial specifically, but $19 trillion is a number that’s often thrown around for the “Internet of Things” market potential.

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Travis Johnson, Stock Gumshoe
June 12, 2017 2:50 pm

It was a snowball effect of “caution” statements from a bunch of investment banks and analysts, as far as I can tell — mostly analysts and strategists saying that the big tech stocks had become a “crowded trade” and reminding people that Amazon, Alphabet, Apple, etc. have moved too far, too fast. There were also a few individual company analysts saying cautious things, though not a lot of actual downgrades — and Andrew Left called a top in NVDA and said it was headed back to $130 (which is a boldly precise call, the stock was below $130 just a month ago), among other punditry jumping aboard the “tech is expensive” bandwagon.

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