Rotation in Tech Stocks Is Healthy, Jefferies' Greenberg Says
THE SO WHAT
Jefferies’ view that rotation from chips into software and then enterprise apps is “healthy” is a roadmap for where scrutiny lands next—infra vendors today, AI-native SaaS and vertical apps over the next 12–24 months. If you’re building at the application layer, assume your valuation and sales cycles will increasingly hinge on measurable productivity or revenue lift, not narrative.
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