From Jeff Reeves at Marketwatch, via davidstockmanscontracorner.com:
About a week ago, at a shareholder meeting for Apple Inc. AAPL, +0.40% two separate wingnuts asked the tech giant whether it would be purchasing electric-vehicle manufacturer Tesla Motors TSLA, +1.25% .
This, my friends, is what a tech bubble looks like.
I won’t spend any more time on how ludicrous this buyout idea is. I already wrote a whole column last month about going after Tesla would be a gigantic waste of money that would result in a measly 1% revenue bump for the smartphone giant despite a roughly $30 billion price tag on the deal.
But it’s worth noting the Apple-Tesla talk as a sign of how feverish the Silicon Valley crowd has become. It seems there is no high-profile name not worth owning, no premium that’s too rich for a “disruptive” product, and no way investors can’t imagine themselves swimming in piles of cash after they buy in.
What a crock.
With each passing day, there are more and more signs that tech investors are in full-on, delusional greed mode, where any flashy gizmo is seen as a guaranteed path to big-time returns.
But those who don’t wise up soon may find themselves in a world of hurt.
http://davidstockmanscontracorner.com/here-come-the-dead-unicorns-another-round-of-tech-wrecks/
To continue reading: Here Come The Dead Unicorns
