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The question, of course, is whether this is a genuine cause for concern, or simply the market having one of its periodic bouts of existential angst. Let’s have a look.

AMD is forecasting “strong demand” for its fancy process tech in Q1 2026. Which, translated from corporate-speak, probably means “we’re hoping everyone keeps panicking about AI and buying all the chips.” Honestly, it’s a brilliant strategy. Play on the fear. I respect it. I also feel a little dirty acknowledging it.

Look, I’m not saying ditch your high-growth tech stocks for pepperoni and pineapple. But before you scoff, consider this: while the rest of us are stressing about inflation and the general state of… everything, people are still ordering pizza. Consistently. It’s a comfort thing, a ‘the world is ending, pass the garlic bread’ kind of thing. And that, my friends, is a remarkably stable business model. They held nearly 3 million shares as of September 30th. And frankly, it’s hard to argue with that kind of conviction.

I ventured a contrary thesis, positing a more substantial attenuation – a full percentage point. This was not based on the illusion of prescience, but on a recognition of the inherent instability of economic equilibrium. Inflation, a phantom perpetually receding, had begun to diminish, and the uncertainties, like shadows in a vast library, were lengthening. The actual outcome – a reduction of seventy-five basis points – was, as is often the case, a compromise between aspiration and reality. A partial validation, sufficient to warrant further inquiry.

Memory. It’s the one thing everyone forgets they need until it’s gone. In the AI game, it’s vanishing faster than a gambler’s last dollar. Micron Technology (MU +3.28%) is sitting pretty, because they make the stuff. Specifically, High-Bandwidth Memory, or HBM. These chips aren’t just fast; they’re the veins pumping data to the AI brains. Without them, those large language models are just expensive paperweights.

Now, these hyperscalers – those are the big tech companies, the ones with more money than sense – they’re getting smart. Bypassing the grid? Investing in their own natural gas turbines? It’s like building a fortress against… well, against a potential energy apocalypse! A bit dramatic? Maybe. But it’s good business. And good business for Fluor. They’re the guys who can navigate the permitting process – a bureaucratic nightmare, believe me – and actually get things built. They were even named a top data center constructor by Data Centre magazine in 2025. A magazine! The accolades just keep coming!

Analysts thought they’d make $2.98 a share? Please. They made $3.14. $3.14! It’s like they’re deliberately trying to be difficult. Why not just hit the number? And sales were $33.7 billion. A billion over what was predicted. A billion! You know what a billion is? It’s a lot. It’s just… excessive.