JPM Tech specialist Joshua Meyers on today's tech selloff The most proximate reason seems to be Hock Tan's participation in a panel at a DBS conference in Singapore, where he warned financing could become a bigger bottleneck than component shortages (in addition to questioning f

JPM Tech specialist Joshua Meyers on today's tech selloff The most proximate reason seems to be Hock Tan's participation in a panel at a DBS conference in Singapore, where he warned financing could become a bigger bottleneck than component shortages (in addition to questioning frontier lab business models, and comparing "many investors" to casino gamblers). Additionally, a sell-side research not over the weekend re-ignited power concerns that have worried investors for weeks (suggesting shortages of powered shell of as much as 19GW next year and more in '28). These worries are hitting on a low-liquidity holiday day, and news out of the middle east isn't helping... As investors sit on their hands ahead of an expected private frontier lab investor meeting on Wednesday. While the SOX struggles at its 100MA, we're seeing the sort of rotation into Mag 7 and Internet names that we might expect if an open bond market were sending rates higher... Key questions this morning have centered around why optical is particularly weak LITE COHR CIEN, what's driving memory lower (especially SNDK), why SMCI is down so much *again*, and why TTMI is being so punished for its capex announcement. Outside of TTMI, I don't have any company-specific reasons for weakness. Always appreciate your feedback/pushback on any of these thoughts... A few folks immediately came back on memory with the CXMT 4F2 news I commented on this morning in Chips for Breakfast. I agree, but personally I also think the worries on memory are more layered than just that one bit of quite speculative news...