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-0.00640793132632082 -0.00640793132632082 -0.00616612259702578 -0.00749607060814887 -0.00698827227662915 -0.00616612259702578 -0.00510216418812722 -0.00435255712731232
Stock impact report

How REITs Became The Safe Haven Trade In The Tech Wreck [Seeking Alpha]

S&P Global Inc. (SPGI) 
Last s&p global inc. earnings: 4/28 07:10 am Check Earnings Report
US:NYSE Investor Relations: stocktwits.com/symbol/s
Company Research Source: Seeking Alpha
As measured by the Vanguard Real Estate ETF ( VNQ ), REITs are up 6.9% year to date against a broader market that is otherwise down. SA The inflection point was really the start of February, as the former hot trades started to reverse. Earnings season brought greater focus to the extreme amount of capex spending being committed by the hyperscalers. While AI is proving to be incredibly powerful, it is also massively expensive, to the tune of trillions of dollars invested by just a few entities. The full expense is not fully showing up in their earnings statements due to delayed depreciation accounting elections, but as more and more analysts are shining a light on the full capex numbers, the market has started to revalue the stocks. While extremely high earnings multiples appeared justified by the potential earnings of AI products, the capex suggests margins might be lower than previously anticipated such that valuations needed to come down. Falling market prices were widesprea Show less Read more
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