Carol Masser

The reality right now, Tiffany, is that tech's the big underperformer in the session, right?

It's a moment in time, but the S&P 500 has wiped out its gains from 2026.

This is escalating, not de-escalating.

Where do you expect markets to go from here based on the headlines that have come out from President Trump and what's happening with Greenland?

The biggest declines are in the biggest names, some of the Mag7 names.

Is that just general sort of anxiety, geopolitical anxiety, as opposed to some direct read through where if this tariff threat is enacted, it is those names that are hardest hit?

We seem to be betting once again, not just on the GPU Fiora, but also CPU Fiora and everything around AI.

Should people be expanding or are the still previous winners going to keep on giving in 2026?

Tying that all together, please, Tiffany, then, you know, next week is huge.

What are the data points that you look for when those biggest technology names have earnings?

Of course, we've studied capital expenditure closely, but we're trying to gauge this time.

Like, when does it transition to you guys saying we need to see really big top or bottom line growth to feel confident that this AI thing is real?

Which of the world's technology companies are you going to be paying most attention to, Tiffany?

I mean, we had nice tea leaves already, if you're looking at earnings from TSMC.

And that's something that you've been looking at, semiconductor equipment manufacturing.

How much resilience did you hear from that company?

And how much do you just put AI bubble worries to one side?

Tiffany, one of the things that's come back out of Davos is the idea of whether America should or should not allow technology to be exported to China.

You know, when you're coming up through the ranks of Bloomberg Television, you kind of learn about China as the engine room of the world economy.

And I've always been curious to ask you how much you worry about that, the balance between need to accessing that market and the competitive risks in exporting technology and national security risks to a market like China.