Big data, analytics, internet, oh my!

In one sinister night two of the highest-valued stocks in the land, Tableau Data (DATA) and LinkedIn (LNKD) disappoint and it’s almost tailor-made for the moment.

I mean, what more evidence do you need to roll into down and out cyclicals than to see faltering themes like analytics, the cloud, the modern want ads. You name it.

Now LinkedIn is one of those episodic stocks where the company periodically just plain out disappoints and there’s a lot of sturm und drang and then everyone "reit buys" -- reiterate their buy recommendations -- because it is a unique property that everyone uses.

The problem is that it is highly valued and it has a $25 billion market cap so it isn’t like another company is going to buy it. Oops, make that $20 billion. Tableau, on the other hand is now a tainted growth stock of unbelievable proportions, with the core licensing business slowing from 57% growth to 31%.

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Not only that, but Tableau will cast a wide net on everything. It is involved with every important theme that people love, as a perusal of its website -- Calling All Data, Visual Analytics For Everyone, Introducing Analytics in the Cloud as three of its web pages are headlined makes clear. You could sell every stock from Splunk (SPLK - Get Report) to Qlik (QLIK) to Workday (WDAY - Get Report) and Salesforce.com (CRM - Get Report) off this and then wait to find who took Tableau’s share or learn of a general slowing of the landscape. I think it is the former but you know how this game works.

Worse, the unicorns out there are looking at a major “down round” right in their faces tonight after these two downers.

Big data, cloud, analytics -- they are the future. But not tonight, and certainly not tomorrow, either.

Editor's Note: This article was originally published at 7:27 p.m. ET on Real Money on Feb. 4.

 

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.