Reported 4 days ago
Veteran analyst Dan Niles has expressed concerns about the performance of the Magnificent 7 tech giants including Google, Amazon, and Microsoft, as their revenue estimates have been revised lower for the upcoming quarter. Despite the strong overall performance of the S&P 500, Niles notes that five of the seven companies are down year-to-date. He warns that the dominance of these companies may be diminishing and that the anticipated growth in AI capital expenditures might slow by mid-2025, signaling potential challenges ahead.
Source: YAHOO