No, It's Not Different This Time

AI-driven infrastructure and chip stocks are showing parabolic moves reminiscent of late-stage dot-com and 2021 bubbles, with QQQ and hyperscalers surging despite only mild oversold conditions. The article flags signs of euphoria and warns that the rally is ignoring macro and monetary policy risks. This is a cautionary market-timing note rather than a company-specific fundamental update.

Analysis

AI-driven infrastructure and chip stocks are showing parabolic moves reminiscent of late-stage dot-com and 2021 bubbles, with QQQ and hyperscalers surging despite only mild oversold conditions. The article flags signs of euphoria and warns that the rally is ignoring macro and monetary policy risks. This is a cautionary market-timing note rather than a company-specific fundamental update.