Davis Center, Amazon, Salesforce discussed on MAD MONEY W/ JIM CRAMER
It's easy to understand why the industrials are melting down. Here are the home builder's of the retailers, but tech was supposed to be different not too long ago. The tech sector was judged on everything. Look good in the stocks word higher so reliably that felt like a more. If you didn't buy the dips now tech is breathtaking bear market. And while many of these stocks still feel unstoppable, they're unstoppable in the wrong direction. So here's the question. What change where the heck did this bear market tech? One thing's for certain you never would be able to tell from the news flow pretty much all things tech in the list of timber was nothing in the news to justify it at that point. Everybody was worried about fed chief Jerome pals gung ho attitude toward rate hikes and vice president Mike Pence's newly bellicose attitude toward China, but neither of these things close to tell itself in techno, no, I'll tell you the real culprits. The one two punch that knocked down to the campus. First jab right around the same time, a new content. Started emerging out of nowhere. Frankly that the data center at Pete and the data is connected to everything especially on the channel. The rise of the cloud in the internet of things was the beating heart of the tech bull market this Davis center. So they did that data centers spent force has been deadly to the whole sector. It's dogged at the whole waits near refused to go way. We're going to spoil the evidence to the contrary, and there's a lot of it coming out of Salesforce dot com, and you'll dream force at the end of September. We're business red hut. I rebelled against this whole street and thought there were still too many companies embracing the cloud the cloud kings for me to believe that there could be really this data center. But you know, it didn't matter. The fact is that somehow the data center business became at least in people's minds. Overbuilt it wasn't easy to spot as recently as the middle of October. We had cybersquatting on data center. Take came on. I talked about robust growth, then you think pissing beak, celebrating didn't matter. You could not kill this narrative. You still can then we got to the fourth think of COPA with Amazon now through reported punk closer to him nation. I believe neither quarter showed any indication slowdown days. But there was nothing super in carriage ING either. And that brings me to the second bunch while the data centers smackdown. Thesis knocked the bull market in tech off-balance who actually Amazon now that was an uppercut that knocked the whole Hulu, and it has never been able to regain its footing. It took us some time to realize what a change and what had happened. I think it had more to do with the stocks in the companies the by the dip strategy stop working for years. Buying tech. Stocks into weakness was a smart move. But it's become a big money loser. They've got like this going to quarters..