Behind the Markets Podcast · Friday, July 17, 2026
Professor Jeremy Siegel observes a significant rotation out of tech stocks, particularly AI chip stories, which he describes as 'frothy.' He also raises questions about the cost of compute, noting that free AI tools are highly capable and that China offers an open structure.
“So, you know, that that coming down, you know, as I've often said, doubling your earnings doesn't justify doubling your price unless you double it forever.”
“Um, as far as, uh, I mean, you know, we don't have next week is a very low week in terms of any important economic news, no Fed meeting, or anything like that.”
“So, you know, that that that is that is huge.”
“There is some question about how much people will continue to pay for compute.”