← All analysis
Related newsBig tech earnings beat, but forward guidance mixed
Why I'm cautious on megacap multiples here
TWTom Whitfield@value_vegaThe earnings beats are real, but the guidance dispersion matters more. When the market pays 30x forward for names guiding to decelerating growth, the margin for error is thin.
I'm not short — I'm underweight and patient. Give me a 15% drawdown and a reset in expectations, and the same names become interesting again. Price is what you pay; value is what you get.
Discussion (1)
Underweight and patient is a real position, not a cop-out. People forget that.