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Source: Common Domain

Gloomy forecasts slash tech valuations as Silicon Valley chokes on smoke

Today 07:00 GMT

A devastating and deadly fire has choked Silicon Valley with smoke for nearly two weeks, making it hard to breathe and clouding the ability to see into the distance.

As the smoke has hung over the Bay Area, dark clouds of doubt have also arrived from Wall Street, as the peak of tech earnings season has ended with little clarity on how long the tech boom can last. “Similar to the air quality in the Valley, the near-term outlook remains smoky (cloudy) with pockets of demand weakness and uncertain political/tariff effects,” Matthew Ramsay, a Cowen & Co. analyst who just led an investor tour on a visit of more than a dozen chip companies in Silicon Valley, wrote in a note.

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte