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STX
The market’s mood ring has changed
Jim Cramer’s latest take is basically: congrats on strong earnings, but what’s your actual scarcity story? In this market, that seems to matter more than just posting solid numbers.
Why the tape is acting weird
Cramer pointed to a pretty familiar Wall Street plot twist: some mega-cap tech earnings have gotten a mixed reaction, even when the companies showed real growth. Meanwhile, names like Seagate and NXP Semiconductors got a stronger pop because investors are chasing companies where supply is tight and demand has more of that “you can’t just order more of this overnight” energy.
The new ‘good news’ filter
That matters for you if you own tech, because the market is basically asking a different question now:
- Is this company growing?
- Sure. But is it constrained in a way that keeps pricing power alive?
- And can the shortage story last long enough to matter?
That’s a very different setup from the old-school reward system where a clean earnings beat could do the trick.
Big picture
The takeaway is less “tech is broken” and more “the market has become annoyingly picky.” Investors seem to prefer businesses with supply bottlenecks, pricing power, or some kind of built-in scarcity advantage over companies that are merely executing well. In other words: the bar isn’t just higher — it’s weirder.