u/Either-Hornet-6499

Author states “the semiconductor crash is not far away” and that a single person’s (Jensen) word can boost stocks to “sky‑high valuation”—implying irrational exuberance. If euphoria reverses, capital flight from semiconductors would disproportionately hit the sector, making a short on a broad semiconductor ETF a high‑probability trade. Short SMH to bet against a crowded, momentum‑driven sector that the author believes is detached from fundamentals. Continued AI capex spending (e.g., Berkshire’s involvement with Google), strong earnings from hyperscalers, or a lack of a clear catalyst could keep the rally alive.