Thoughts on AI market sentiment into month-end

Watching the AI space closely, especially how it's influencing broader tech. I'm putting the odds at about 65% that we see some real profit-taking pressure emerge in the AI-adjacent big cap names by end of July. The run has been steep, and while the underlying tech is transformative, the market seems to be pricing in a flawless execution curve. Any hiccup in Q2 earnings or even a slight miss on forward guidance for key AI players could trigger a more significant unwind than some expect. We're seeing some rebalancing, $SAP up today, but a broader market rotation out of high-flyers is due. It's not a call for a crash, just a reset. The current levels aren't sustainable without near-perfect news flow.