AI-linked stocks crash in sync: Fortinet and ServiceNow -25%, Google -13% as consumer booms
ivan_bezdomny · x · 2026-10-30
Analyst goodalexander spots a consistent pattern: AI-narrative stocks are all decelerating in Q4. Fortinet, bought on an "AI cybersecurity emergency," fell 25%; ServiceNow's AI SaaS pivot (forward-deployed engineers) fell 25%; Google went FCF-negative chasing TPUs and AI while core ads decelerate, down 13% — after YouTube was supposed to kill Netflix (down 44% over a year). Robinhood's agentic push hasn't stopped MAU declining sequentially. Meanwhile consumer is booming: Cheesecake Factory +15% comps, Chili's +10%, Norwegian Cruise raised guidance with passengers up 22% YoY (983k vs 900k expected). His punchline: if AI is the future, why is it underperforming fried mac?
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