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I’m talking about altcoin season. Think of it as the crypto market’s version of spring break. Everyone suddenly decides responsible investing is for squares, and money starts flowing into, shall we say, less established digital assets. It’s when investors start looking at coins that sound like they were named by a committee of caffeinated teenagers. The risk goes up, the reward potentially goes up, and suddenly your friends are telling you about their amazing returns on… well, you try not to ask too many questions.

But where will Nebius find itself in five years? A perfectly reasonable question, and one deserving of a little… contemplation. I foresee two possibilities. One is, shall we say, encouraging. The other is… distinctly less so. It’s always the way, isn’t it?

There are two such fields I’ve been watching, two companies that seem to have tapped into something enduring. Amazon, and The TJX Companies. They aren’t miracles, these businesses. They’re simply good, honest work, scaled to meet a world that demands more, yet often offers less.

Adobe. They’ve been the kings of creative software for decades, and yet, the market is treating them like they’re about to be swallowed by the AI singularity. FEAR. It’s a powerful drug, isn’t it? Everyone’s panicked about Gemini and other AI image generators, thinking Adobe’s days are numbered. They’re worried about the democratization of creativity, as if giving more people access to tools somehow diminishes the value of actual skill. The stock is down 38%? A 38% DISCOUNT on a company that still dominates its space? That’s not a correction, that’s a goddamn fire sale. The P/E ratio is a pathetic 12? I haven’t seen numbers that low since…well, since the last time I tried to count my losses after a particularly bad weekend in Vegas.

While the prevailing sentiment on Wall Street regarding AI is generally positive – a sort of optimistic hum that occasionally swells into a full-blown fanfare – it’s worth remembering that not every company riding this particular wave will necessarily end up surfing. In fact, some may find themselves rather abruptly deposited onto the beach. Two stocks, frequently mentioned in hushed, reverent tones – Palantir Technologies (PLTR +0.30%) and Upstart Holdings (UPST 2.34%) – are, according to certain analysts, facing a potential descent of up to 68% over the next year. A significant drop, even in a universe accustomed to gravitational anomalies.