The tech-based NASDAQ feels vulnerable day to day, but when we stand back and consider its consolidating recent gains, only 4% below its all-time high, the doomsday merchants are getting ahead of themselves. Trump is undoubtedly influencing markets and companies alike, with Apple Inc (AAPL US) announcing overnight it plans to add 20,000 new US jobs as it attempts to appease the Trump 2.0 steamroller; plus, they intend to spend $500bn including a new AI server in Houston – in total Apple’s most significant US commitment to date. If a $US3.7 trillion goliath is bending to Trump’s policies, others will follow as the “Make America Great Again” election catchcry gets enacted.
- We prefer to sit pat ahead of Nvidia’s important result, which will be released on Thursday morning our time.
MM is neutral toward US tech stocks
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