Tom Gardner

It's now looking at a valuation in the hundreds of billions of dollars at Micron.

So I really like to look downstream.

There is a part of me that wonders when we're going to get some government intervention on the Mag7, because these are truly...

It's one of the largest monopolies.

They're competing with each other.

They're also drawing a lot of free data from the general public.

And I think there are going to be pressures coming to bear on some of the Mag7 companies from a regulatory standpoint.

Maybe not in the immediate future, but it's got to be coming.

But downstream in this CapEx spend, you have

you have construction companies, you've got HVAC, cooling, you have just tremendous opportunities in subcategories like photonics.

These spends are going to have a dramatic impact downstream on companies that

Maybe they were somewhat flatline businesses and now the electrification boom is turning them into high growth margin rising companies with rising returns on invested capital.

So I'm continuing to look downstream for investments.

But I'd say out of the group that we've talked about so far, certainly I'm most interested in Google coming out of these earnings.

The mystery topic of the day is consumer sentiment.

When we look at the University of Michigan's consumer confidence scores, these are analysis across 600 households.

The scoring system has gone back to 1952.

and we are at the lowest reading in history typically the sentiment score might break down along political lines but of course scoring income and age and education as well as as key factors and yet all categories are showing numbers is at historic lows so the the economy right now is being powered by super tech

And those large technology companies are also sending some signals to the marketplace by cutting the size of their workforce as they're growing.

And you see Meta laying off 8,000 people and cutting back on 6,000 jobs it had listed.