Nvidia and other AI-fueled tech stocks are heading for a ‘magnificent exuberance' bubble
“ This will not end well, but not yet. It’s still early in the bubble.”Technical deteriorations in the U.S. stock market were apparent last week, but Nvidia Corp.’s NVDA, -0.05% blowout earnings report saved the day. The tech giant’s results beat Wall Street’s expectations on all metrics, and the company also guided upwards. There wasn’t anything to dislike about the report. As a consequence, the PHLX Semiconductor Index SOX, which is a bellwether for artificial-intelligence-related plays, rallied strongly. ...