from Wolf Street:
You’d think Wall Street analysts had other things to worry about these days. But no. A hype battle is brewing among them as to whether Apple or Google will be the first with a market capitalization of $1 trillion. In early 2000, the candidate was Cisco, before the very notion was obviated by events.
With the S&P 500 down only 6% from its September high, these analysts are not worried that Apple or Google would lose their footing like Cisco did in 2000. But beneath the surface, the bloodletting has been brutal. I received this note from an investor with decades of experience:
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