AI capex will be pivotal figure in tech, chip earnings

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The chip sector reverses course from gains seen earlier this week. Will this trend continue or will chip stocks rebound even higher? Harvest Portfolio Management Co-CIO Paul Meeks joins Catalysts to discuss his outlook on tech amid this earnings season.

Meeks describes the current earnings season as "weird and squirrelly," stating he is refraining from buying tech names until the season concludes. He notes that while some companies are posting strong results, "their stocks go down the next day," leading him to characterize it as "too difficult of a market."

Regarding tech names, Meeks observes that this earnings season, "The only thing that was not controversial at all is how much... money they're going to spend on AI CapEx [capital expenditures]." He believes this "bodes incredibly well" for companies like Nvidia (NVDA), saying the semiconductor giant will "have a hold on this market as far as the eye can see."

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Angel Smith