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Tom Lee
2026-08-23 04:41:07

Tom Lee says AI trade is shifting toward software, applications and ETH

Fundstrat co-founder Tom Lee said the first phase of the AI trade was concentrated in upstream areas such as semiconductors, memory and infrastructure, where related names had already seen major gains and then moved into a pullback. According to comments cited by DecodeMarkets from Lee’s Thursday appearance on Macro Minute, market attention is now rotating toward downstream segments, with software, the application layer and Ether drawing more interest. Lee said Ethereum has already gone through the expected sharp cooldown, but its fundamental narrative continues to strengthen. He pointed to stablecoins, tokenization of assets, institutional adoption and the prospect of AI agents eventually completing transactions on-chain as areas supporting that case. He also said capital may be shifting away from building infrastructure and toward owning the underlying rails where the next wave of activity could happen, which in his view suggests the market is still in an early stage. Lee added that ETH has started to show price action, but positioning has not kept up, with most portfolios still lacking exposure to the asset.

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Tom Lee says AI trade is shifting toward software, applications and ETH
U.S. stocks
2026-08-11 10:45:58

TMT Breakout says U.S. tech money is rotating from AI semis into software

TMT Breakout said the key shift in the current U.S. tech rally is a repricing inside the AI trade, with capital starting to move away from crowded AI semiconductor names and toward software, internet, and cloud companies whose earnings are easier to verify after results. The report said the Nasdaq-100 ETF was down about 30 basis points on the day and trading volume continued to slow as the market moved into the later stage of earnings season, but that cooling has not happened evenly across tech. According to the report, investors are now looking again for companies where earnings growth is accelerating, the narrative is improving, and valuations have already pulled back. It cited PLTR, TWLO, and TEAM as software names that continued to attract buyers after earnings, showing that the market is willing to reprice more predictable growth. By contrast, follow-through in AI semiconductors has been weaker, and even companies with decent results or guidance have struggled to keep drawing incremental capital. TMT Breakout also pointed to a macro backdrop of higher oil prices, rising Treasury yields, and renewed sensitivity to inflation and rates, saying companies that can show cash flow, orders, or demand evidence after earnings are in a better position to hold investor attention.

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TMT Breakout says U.S. tech money is rotating from AI semis into software
memory
2026-08-09 08:56:07

'New Stock God' Remains Bullish on Memory, Says Photonics Fundamentals Intact

According to ChainCatcher, a figure dubbed the 'New Stock God' has reiterated their bullish stance on memory chip makers, including Micron (MU) and Samsung, arguing that markets tend to rotate between different supply bottlenecks. This week, photonics names from AXTI to LITE are back in focus; compared with the July selloff, the main change has been in share prices, followed by scattered narratives and business updates. The investor noted that the market already knew during July that COHR and LITE's laser products were sold out for the next two years and had learned about demand imbalances from AAOI's last quarter's earnings call. Aside from post-liquidation price moves, photonics fundamentals have not deteriorated; bottlenecks in optical transceivers and indium phosphide substrates remain unchanged, possibly even worsening. On memory, the 'New Stock God' said retail investors are showing capitulation, though the same crowd was extremely bullish after MU signed 16 SCAs and delivered solid guidance. They believe the current ratio of memory operating profit to market cap is 'extremely unreasonable,' and demand imbalance may worsen next year. The same companies have only seen changes in valuation and narrative, while the market rotates across sectors.

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'New Stock God' Remains Bullish on Memory, Says Photonics Fundamentals Intact
US stocks
2026-07-24 06:04:52

Gate data shows CLF, MEDP and IMAX leading U.S. stock gainers

Hot money rotation in the U.S. stock market is still in play, with steel, healthcare and entertainment-related names standing out. According to data from Gate, the top three gainers on its U.S. stock board were Cleveland-Cliffs (CLF), up 15.87%, Medpace Holdings (MEDP), up 15.06%, and IMAX (IMAX), up 11.98%. Among them, CLF climbed nearly 16% in a single day. The move points to continued market attention on cyclical manufacturing and consumer service-related stocks, based on the description provided in the source report from ChainCatcher.

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Gate data shows CLF, MEDP and IMAX leading U.S. stock gainers