---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42162107.md"
description: "An ideaIn fact, we are already in a period similar to when the internet bubble was about to burst, but the evolutionary path is different.When the internet bubble burst back then, semiconductors remained very strong for the first few months. Everything else was crashing wildly, but they were still oscillating at high levels.This time, the divergence is even more severe. Within the broad technology sector, the hardware segment and the application layer are already very distinct, let alone other major sectors. This might be because the market liquidity today is not as good as back then, making it impossible to sustain a long-term, broad-based rally across thousands of stocks. (Or for some other reason, it doesn't matter anymore.) In short, the day of collapse or a major market shift shouldn't be far away.Because the most important logic is: the current prosperity of the US stock hardware sector is entirely based on the expectation that other application layers and cloud companies will continue to invest heavily. This contradicts the current market trends and pricing mechanisms and cannot be sustained in the long run."
datetime: "2026-06-24T20:55:25.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42162107.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42162107.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42162107.md)
author: "[顺势&择时](https://longbridge.com/en/profiles/15095898.md)"
---

# An ideaIn fact, we are already in a period similar…


### Related Stocks

- [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md)
- [CP00062.US](https://longbridge.com/en/quote/CP00062.US.md)
- [SOXS.US](https://longbridge.com/en/quote/SOXS.US.md)
- [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md)

## Comments (6)

- **FakePhoenix · 2026-06-25T02:43:11.000Z**: If it raises interest rates like the Fed did back then, it will blow up immediately; if it cuts rates, it can buy some time.
- **脆皮大学牲 · 2026-06-25T01:52:38.000Z**: To be honest, the Microsoft and PLTR I'm holding are starting to feel a bit unbearable. It's still the same logic: I don't like these companies; I just think the software sector is undervalued 😭
- **纳斯达克小作手进行录 · 2026-06-25T01:06:28.000Z · 👍 3**: Micron, NVIDIA, Intel, AMD, Broadcom, SanDiskEssentially, they have a symbiotic relationship with the four major cloud providers (Meta, Microsoft, Google, Amazon) as well as OpenAI and Anthropic.The only reasonable path for the pricing of these hardware manufacturers mentioned above is that the four
- **元气2025GoGoGo · 2026-06-24T22:01:12.000Z · 👍 1**: Is it possible that all those glossy financial reports are nothing but deception?
  - **顺势&择时** (2026-06-24T22:36:37.000Z): It's possible, but it's meaningless to discuss this now.
- **永不褪色的红色风暴6 · 2026-06-24T21:29:09.000Z · 👍 1**: Agreed, indeed the big tech companies are all restricting their spending.