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The stock market has been dominated by a single industry many times in history: railroads (Union Pacific), oil (Standard Oil, later Exxon), steel (U.S. Steel),
by nairboon 11mo ago
The stock market has been dominated by a single industry many times in history: railroads (Union Pacific), oil (Standard Oil, later Exxon), steel (U.S. Steel), banking (JPM), industrials (GE), telecom (ATT), computer hardware (IBM, MSFT, Intel), smartphones (Apple), consumer internet (Facebook, Google, Amazon) and now "AI" (Nvidia, Magnificent 7).
Isn't the interesting question now: what follows? Or does history end with Mag7?
- epolanski 11mo agoI think that the overall point is that gargantuan big tech capex is hiding an overall weakness in the economy.