Tech Giant Tailwinds Turning? Shifting Conditions Call for Evolved Investor Thinking
• Updated market narrative suggests no Fed rate cuts are imminent, removing a tailwind for "Magnificent Seven" tech stocks
• Recent earnings from Apple, Alphabet, Microsoft, and Tesla had weaknesses that call valuation multiples into question
• Economy adding hundreds of thousands of jobs monthly; doesn't need rate cuts to prop it up
• Investors seem blind to new trends/news by clinging to "Magnificent Seven" stocks
• Need to evolve thinking on tech giants in light of shifting conditions, or risk getting portfolio "blown up"