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Momentum Monday On A Tuesday- Ho Hum..Another Great Week For 1999 Technology Companies and Their 1990's Banker Goldman Sachs
Howard Lindzon
June 02, 2026
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Good morning…
Trump did bring back the past…1990 technology leaders $DELL ( ▼ 4.8% ) $IBM ( ▲ 0.37% ) Intel, Apple, Hewlett Packard and Cisco to name a few.
While he will take credit, it is in fact the AI cycle that has create this magical moment for the old hardware vendors.
My AI agent needs a Mac Mini and fortune 500 companies need millions of Dell and HP machines to run their AI and the datacenters need hardware and so on and so on.
On top of all the joyous technology gains comes the Anthropic IPO. Yesterday, Anthropic filed for their IPO.
Also harking back to the 1990’s…Goldman Sachs ( $GS ( ▲ 2.1% ) ) is the other big winner of this AI run as they are the lead banker on all three big IPO’s totaling nearly $4 trillion (Anthropic, Open AI and SpaceX).
I have no idea when the party ends, but it will end. There is a lot of sloppy investing taking place from my vantage point.
Hope you enjoy the episode…
Welcome back to Momentum Monday!
In today’s episode of Momentum Monday, Ivanhoff and I discuss the following:
The Nirvana Market: Uncorrelated Price Action
Software and SaaS Rebound: Oracle to Cloudflare
Crypto Underperformance and Hyperliquid Disruption
Space Stocks and the IPO Supply Wave
AI Sustainability and the Michael Burry Bear Case
Trading Setups: Nuclear Energy and Fiber Optics
In This Episode, We Cover:
The Nirvana Market: Uncorrelated Price Action (0:02)
Software and SaaS Rebound: Oracle to Cloudflare (1:04)
Crypto Underperformance and Hyperliquid Disruption (2:35)
Space Stocks and the IPO Supply Wave (5:43)
AI Sustainability and the Michael Burry Bear Case (7:50)
Trading Setups: Nuclear Energy and Fiber Optics (14:11)
Here are Ivanhoff’s thoughts:
Antropic filed for an IPO, which is accelerating the trend in many AI stocks. Memory – MU, SNDK, WDC; semis – ARM, MRVL, INTC, AMD; servers – DELL, AI data centers – NBIS, CRWV have been on epic runs. Going parabolic ahead of a widely expected event typically leads to sell-the-news action. If you are riding a hot trend, you know that it will likely give back 10-20% of its gains when it reverses and stops you out.
The rally in tech is not just about semiconductors anymore. Quite a few software stocks crushed earnings estimates this quarter and embarked on their own epic run – DDOG, TWLO, CRWD, FTNT, etc. It was always clear that not all software stocks are going to be disrupted by AI, but there was a period when the market sold anything software. Not that it is coming back to its senses, it is separating the potential winners from the losers in the space.
And here are the charts discussed:
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