Tiernan Ray has been covering technology and business for over 24 years. He was most recently technology editor for Barron's where he wrote daily market coverage for the Tech Trader blog and wrote the weekly print column of that name. He has also worked for Bloomberg and SmartMoney, and for the prestigious ComputerLetter newsletter covering venture capital investments in tech. In addition to TheStreet.com, his writing about artificial intelligence can be seen on ZDNet.com. His work has been published in the New York Times, Fortune magazine, and CNN Money. He is a graduate of Princeton University and a native of New York City.
The economics of both firms are attractive, but their valuations are very high, as is typical for tech new issues.
Lyft's soggy performance and Pinterest's slowing growth suggest investors will draw a clear divide between tech IPO winners and losers this year.
Zscaler, Twilio, Okta and other cloud computing favorites sport very high multiples as tech investors crowd into growth names. They need to cool off before they can go higher.
The cloud giants will get the biggest payoffs from faster and better wireless networks, not the network providers themselves.
Apple, Alphabet and the rest seem increasingly bent on making their businesses boring. As a result, they should consider emulating master limited partnerships (MLPs).
Lyft has spent billions to be a money-losing concern in its battle with Uber. But the company has not articulated how it will dig itself out of that hole over the coming years, something significant to consider as its IPO soars.
The tech giants have tried over the years to add more and more subscription components, but none of them come close to the pristine simplicity of the Netflix business model that Wall Street adores.
Micron's shares soared Thursday as it signaled chip doldrums are approaching an end. That should propel shares of all-too-cheap chip peers such as Intel and Applied Materials.
It was risible when Broadcom's Hock Tan said he'd buy sleepy old software maker CA last July. Tan's having the last laugh, however.
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