Asks how recent market events fit with Clinton's view on big tech stocks, given they've been in pullback zones.
Mike
Doug Clinton
States recent events don't change their view; AI trade is still alive and healthy. The pullback/reset at year-end was needed, especially for hot AI names.
Questions market tolerance for high capex spending, citing Microsoft's expensive valuation and impact on free cash flow. Asks where incremental investor dollars go.
Mike
Doug Clinton
Argues value is important and identifies Amazon as a value play within Mag7 due to its relatively low forward P/E (mid-20s).
Asks what Clinton's models say about the software sector, which the market sees as disrupted, citing Salesforce's low multiple.
Mike
Doug Clinton
Suggests the aversion to buying software might be the exact signal to buy. His models have been gravitating towards software (e.g., Adobe, ServiceNow, GitLab), though they were early.