WDC - AI Tiers And Taking Profits In Tech With Joe Albano Tech Cache

2024-04-15 08:30:00 ET

Summary

• Tech stocks performed well in 2023, but there may be a short-term top coming in the near future.
• Joe Albano advises investors to start trimming and taking profits from their long positions.
• Different tiers in the AI industry, winners and losers, and why he believes Google has fallen behind in innovation.

Listen here or on the go via Apple Podcasts and Spotify

Joe Albano runs Tech Cache and gives his perspective on AI going mainstream and why he sees a short-term top coming (0:55). Quantifying tech stocks with fundamentals and chart analysis (7:35). Understanding AI's different layers (16:40). Hot take on Google/Alphabet (30:15).

Transcript

Rena Sherbill: Welcome to the show, Joe Albano, who runs Tech Cache on Seeking Alpha. Great to have you on the show. Thanks for joining us.

Joe Albano: Hi, Rena. Thanks for having me.

RS : It's a pleasure. So I'd love it if we could start with your perspective on the tech sector . Obviously, a lot talked about the tech sector. It's been doing – well, some companies in the tech sector, have been doing extraordinarily well.

How are you thinking about things? Here we are nearing the mid-April section of 2024. How are you thinking about and looking at the tech sector these days?

JA : Yeah. Well, I'd say I'd start back in late 2022 when kind of the AI mainstream – kind of what mainstream and everything started picking up. It felt like a lot like the cryptocurrency boom back in like 2018 kind of era, where everybody suddenly talked about AI on their earnings reports and their conference calls. And it became one of those situations where you had to decipher who was going to really benefit and where it was going to show up in the financials. And then you had to separate things that were outside of AI.

So you had cyber security, which has always been something that had to be on the leading edge. And AI would always be a perfect kind of endpoint for cybersecurity to do things better and faster than humans to prevent threats, for threats to deal with all that kind of stuff. And then you looked at kind of the big tech side of it with Google ( GOOG ) ( GOOGL ), Meta Platforms ( META ), all the social media aspect of it....

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