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How do you know the markets are having a bad day? The CEO of Intel starts praying.
Today, Pat Gelsinger tweeted: “‘Let your eyes look straight ahead; fix your gaze directly before you. Give careful thought to the paths for your feet and be steadfast in all your ways’ Proverbs 4:25-26”.
Gelsinger’s biblical quote comes after a continuation of last week’s massive tech sell-off as investors start to doubt the so-called AI revolution that tech companies have promised. There are now fears of a US recession as Japan’s Nikkei tanked by more than 12% in its biggest single fall since the Black Monday crash of 1987.
“Let your eyes look straight ahead; fix your gaze directly before you. Give careful thought to the paths for your feet and be steadfast in all your ways” Proverbs 4:25-26
— Pat Gelsinger (@PGelsinger) August 4, 2024
The tech sell-off was further demonstrated today when Warren Buffet’s Berkshire Hathaway sold off a large chunk of its Apple shares and increased its cash reserves to $227 billion. Forget AI, it’s time to start selling bibles…
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