$U 20260618 37.0 PUT$ AI is no

AI is no longer a growth narrative — it’s becoming a business-model risk, and the market has started pricing that in software first.

That is exactly how late cycles turn.

• Investors are no longer underwriting 3–5 years

• They’re discounting structural uncertainty

• Appetite to step in is low

That’s how multiples compress, even without earnings collapse.

We are now seeing a reprice in equities due to:

Phase 3 – Distribution / Fragility (Now ‼️)

Phase 4 – Repricing / Earnings Reality (Now ‼️)

Phase 5 – Capitulation / Reset (not yet ⚠️)

April and June will be the most crucial and dangerous window. With liquidity drying up, spending through the roof, being in-line with expectations are no longer enough. If your results doesn't blow investors away, the stock will be blown away. Microsoft and AMD has already been punished, who will be next? Or will the whole sector start being punished?

Jan Review: Is February for Buying or Bailing?

January trading has come to a close! While the three major U.S. indices finished in the green, the "Precious Metals Massacre" and the major leadership change at the Fed made this a highly unusual start to the year. Do you think this deep dive in Gold/Silver is a "Golden Pit" buying opportunity? With tech underperforming, are you trimming your exposure to Big Tech in February? Will 2026 follow the "January Barometer" to a bullish finish, or are we in for a repeat of last year's Q1 pullback? How do you review earnings performance in Jan.?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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While the three major U.S. indices finished in the green, the \"Precious Metals Massacre\" and the major leadership change at the Fed made this a highly unusual start to the year.\nDo you think this deep dive in Gold/Silver is a \"Golden Pit\" buying opportunity?\n\nWith tech underperforming, are you trimming your exposure to Big Tech in February?\n\nWill 2026 follow the \"January Barometer\" to a bullish finish, or are we in for a repeat of last year's Q1 pullback?\n\nHow do you review earnings performance in Jan.?\n\n","image":"https://community-static.tradeup.com/news/0cf6c6cd822014b47c832d61f0b2a0f1"}],"images":[{"img":"https://community-static.tradeup.com/news/8735d6e22afc881aa2a13ebe0738094e","width":"1122","height":"1737"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/8735d6e22afc881aa2a13ebe0738094e","width":"1122","height":"1737"}],"title":"","html":"<html><head></head><body><a href=\"https://ttm.financial/OPT/U 20260618 37.0 PUT\">$U 20260618 37.0 PUT$</a>&nbsp;\nAI is no longer a growth narrative — it’s becoming a business-model risk, and the market has started pricing that in software first.\nThat is exactly how late cycles turn.\n&nbsp;• Investors are no longer underwriting 3–5 years\n• They’re discounting structural uncertainty\n• Appetite to step in is low\nThat’s how multiples compress, even without earnings collapse.\n \nWe are now seeing a reprice in equities due to:\nPhase 3 – Distribution / Fragility (Now ‼️)\nPhase 4 – Repricing / Earnings Reality (Now ‼️)&nbsp;\nPhase 5 – Capitulation / Reset (not yet ⚠️)\n \nApril and June will be the most crucial and dangerous window. 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