I just dumped all my tech stocks
I just dumped all my tech stocks
Fuck this.
I've lost thousands these past couple of weeks thanks to agent orange here who's been threatening Taiwan with all sorts of bullshit. This has affected the whole chip market, which in turn affected the EV market and other computer hardware manufacturers.
Already, the EV market wasn't doing so well due to lack of enthusiasm from consumers who can barely afford a shelter over their head, let alone a good damn electric car at the price they're selling them. This also affect the EV battery industry and everything related.
My ETFs we performing poorly already, so on to of this with the chip industry stocks tanking, I decided to sell everything.
Instead I'm going to invest in SAP which seems to be doing well and I think they announced they were going to enter the travel industry with a new platform? And their stocks are going strong.
Lol you sell when you lose money for a couple weeks? What's next you buy when the stocks are high?
Your supposed to rollover your assets based on tax incentives to mitigate loss and reduce cost per share. You should really keep your investments in funds if you are this inexperienced with investing. Blowing up an entire industry of your portfolio is never going to be a solution to anything. You continue managing assets like this and you will absolutely lose everything.
Didn't you read my post? People aren't buying EVs. I had invested in ETFs several years ago and were doing well at first until Musk started to fuck up everything with Tesla. I also had ETFs in battery tech and resources, but apparently they've built too many batteries for the market demand and are stuck with stock that could potentially provide for the demand for the next 10 years! Not to mention how China is saturated with unsold EVs and batteries that haven't even entered Western markets because of restrictions.
Then Trump comes along and says he won't defend Taiwan, the world's leading chip manufacturer, if he gets elected. And the chances of him getting elected are very fucking high. So my NVDA and AMD stocks are falling like a stone and all my profits are going away.
So no. I'm not stupid. I know what the fuck I'm doing. I'm just bailing out before I lose all my gains.
That is very smart. I would sell any stocks in tech as the market it going to crash hard
My thoughts the last several months about chip stocks has been to find companies within the US that are going to be able to manufacture. Originally I was thinking Intel, but kinda forgot about this sector and never jumped into anything or did much research.
Seems to me that both sides of the aisle realize that we need to reduce our dependency on goods from Taiwan, chips especially. With geopolitical tensions on the rise we may have supply lines cut. Politicians may be planning to LET supply lines get cut if it means avoiding a war with China over Taiwan. Nobody really knows what will happen quite yet. If I were going to play around in that sector I'd be looking for companies that can produce locally. Then plan on waiting a couple years.
I hadn't heard of SAP until reading your post. Again, I'll note that I did little to know research. I glanced at their website, saw the letters AI, and noped outta there. Looks like a relatively successful SalesForce competitor, but not an industry I understand fully. Could work out. Very few are going to get you rich tomorrow.
The lesson you're probably going to get is that it pays to hold on during the rough periods. It can be difficult to determine sometimes what is a bad stock vs just a bad time period for the stock. Pretty sure we've all had a ticker we sold at a low only to see we could have been in profit a few months or years later.
Brother, SAP is a force to be reckoned with.
They are the industry standard in ERP/CRM systems and general ecommerce. Their software are huge important components of practically all the major companies in the world.
Just because you saw "AI" on their website homepage doesn't mean anything. They're not developing the next ChatGPT. They are leveraging AI for analysing data to help companies make business decisions or to predict events. Which is how AI should be used.
Having had SAP stock for at least the pas 10 years, I can tell you it's a sure value.
Also disclaimer: I used to work for SAP and that's how I ended up getting stocks. Because it was part of my benefits package.
Right on man, I'll do some more research on it :)