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0 pointsfreyr6y ago0 comments

It’s surprising to see just how much higher many tech stocks are valued right now than they were six months ago:

    MSFT +21%
    AAPL +15%
    AMZN +37%
    FB   +6%
    NFLX +50%
    UBER +21%
    SQ   +22%
    SNAP +16%
    MTCH +10%
    NVDA +60%
    TSLA +128%

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nugget6y ago· 2 in thread

Of that list, I understand why MSFT, AAPL, AMZN, and NVDA would be up. The rest aren’t so clear to me.

NFLX - streaming is up but consumers exhaust the content library faster and competitors (Disney) will now want to gain market share at any cost

FB, SNAP - exposure to ad dollars (brand, travel, hospitality, entertainment) that won’t be coming back for awhile

UBER - unit economics of food delivery aren’t attractive + hyper competitive market, demand for core rideshare business likely depressed for a long time given it’s dependency on events and business travel

SQ, MTCH - no opinion, neutral sentiment

TSLA - with gas so cheap, electric vehicles are less attractive

I buy the tech multiple expansion thesis but that would apply to every company on this list.

dredds6y ago

> TSLA - with gas so cheap, electric vehicles are less attractive

One suggestion was that the big players will postpone electric while their ICEs get a temp boost, thus giving TSLA an even more unassailable lead.

folmar6y ago

The EV run is on government incentives worldwide, not cost per mile. Outside US the fuel price is marginally related to raw petroleum, i.e. in Europe dropped some 25% when petroleum went down to basically zero.

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