Christina Hooper

I do think the numbers will be good, but I think there could be obstacles as we move through the year.

And first off, I would anticipate that if we do see a big increase, or at least a substantial increase in yields on the long end, that could very easily exert downward pressure on tech stock prices.

So I think that could be the first problem.

But as we move through the year, we could see problems with financing, some issues with NIMBY.

You think about the anxiety building up around Oracle and the debt that it has to take on?

Absolutely.

I think that that could very well slow down the AI data center build-out.

So there are a number of different things that could slow progress over the course of the year and really tamp down stock prices.

Well, there is an old adage, buy on the rumor, sell on the news.

And I do think there is a lot of positive sentiment right now around these companies being able to meet and potentially exceed earnings expectations.

So I think that's what's happening right now.

I also believe something else is occurring.

And we have to recognize that the backdrop is an economy that

that is sputtering.

I am in the minority in this view, but I do think the economy is facing some very significant headwinds right now.

We just saw a consumer confidence reading that was the lowest since 2014.

And I think what happens typically is in an environment like that, investors move to technology.

they move to areas that are more defensive, that can perform well in a variety of different environments, the secular plays.

And again, tech has been the poster child for secular plays for some time now.

Well, I think what is becoming increasingly true is that there is a divorcing, a decoupling between Wall Street and Main Street.