When the large tech stocks get cheap, it's not because people aren't aware of their network effects, It's rarely because people think someone else is going to recreate Office, or the iPhone, and compete those profits away. Rather, it's that people feel that those products for one reason or another are going to lose their salience in the …
When the large tech stocks get cheap, it's not because people aren't aware of their network effects, It's rarely because people think someone else is going to recreate Office, or the iPhone, and compete those profits away. Rather, it's that people feel that those products for one reason or another are going to lose their salience in the future. Or, in the particular case of Meta, both that and that the CEO was setting large amounts of money on fire.
When the large tech stocks get cheap, it's not because people aren't aware of their network effects, It's rarely because people think someone else is going to recreate Office, or the iPhone, and compete those profits away. Rather, it's that people feel that those products for one reason or another are going to lose their salience in the future. Or, in the particular case of Meta, both that and that the CEO was setting large amounts of money on fire.