The Silicon Valley growth story may soon be coming to an abrupt end. According to Global Equities Research analyst Trip Chowdhry, the recent economic slump in San Jose and Oakland is a sign that the Silicon Valley bubble is bursting.
What’s Going On In Silicon?
The Bay Area lost 4,400 jobs in February and has now lost 8,600 jobs so far in 2017. Chowdhry blames the Silicon Valley “junk IPO parade,” a list of companies he believes have no viable long-term business prospects.
“[The] startup bubble continues to burst — zero durability, zero technology,” Chowdhry said. “It is all about one investor finding the next fool, and sadly they have exhausted all the fools.”
He believes the 8,600 jobs lost in the first two months of the year is just the tip of the iceberg. Chowdhry said trends such as the app economy, social media, mobility and hybrid cloud will not work for investors in 2017. In addition, he says Apple Inc. AAPL 0.19% stock is “toast.”
Back in February, Chowdhry wrote that the tech industry is getting primed for a “significant reset,” one that could mean major pain for investors.
A List Of ‘Junk’ Names
Chowdhry highlighted the following companies as “junk” stocks that will be exposed…
Click here to continue reading
Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
