Everything’s Coming Up Big Tech

Wall Street traders sent U.S. stocks to all-time highs on Wednesday. An ebullient market, pleased with easing inflation, liked big tech even more. Most of the tech giants like Nvidia, Meta Platforms and Microsoft saw gains higher than the S&P 500. 

As if those companies need more help, the market’s friendliness plays into big tech’s hands. Microsoft, Alphabet, Meta and Amazon need investors to overlook blemishes to their profit margins as they build more data centers (and search for power sources) to fuel AI bets, as Anita wrote earlier this month. The Fed’s potential lowering of interest rates should fuel their stock-price growth further.