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Stagflation Short '25: Expensive Tech
10 tickers · $10.04T total market cap
Group: Stagflation Short
In the face of Trump's aggressive tariff regime and supply chain realignment, expensive tech—especially hardware-dependent and consumer-exposed names—are structurally vulnerable. These companies sit at the intersection of rising input costs, margin compression, weak global demand, and overvaluation. The assumption that tech is “deflation proof” is proving dangerously wrong.
Stagflation Short '25: Expensive Tech tracks 10 publicly listed stocks in this theme: AAPL, DELL, DXCM, NTAP, NVDA, PODD, QBTS, RGTI, SOUN, ZS. See the constituent table for details.
Thesis update: 2025-04-09
Constituents
Build 20260519T212339
| Company | Previous Quarter Report Date | Next Expected Report Date | Last Quarter Earnings Move % | Earnings Move % | Intra-Quarter Move % | Since Last Report % | Market cap | Weight |
|---|---|---|---|---|---|---|---|---|
NVIDIA CorporationNVDA | 02/25/2026 (AMC) | 05/20/2026 (AMC) | -9.39% | — | 19.32% | — | $5.40T | 10.0000 |
Apple Inc.AAPL | 04/30/2026 (AMC) | 04/30/2026 (AMC) | 0.46% | 3.69% | 4.57% | 6.72% | $4.37T | 10.0000 |
Dell Technologies Inc.DELL | 02/26/2026 (AMC) | 05/28/2026 (AMC) | 21.93% | — | 58.87% | — | $160.67B | 10.0000 |
Zscaler, Inc.ZS | 02/26/2026 (AMC) | 05/26/2026 (AMC) | -12.17% | — | 19.23% | — | $28.09B | 10.0000 |
DexCom, Inc.DXCM | 04/30/2026 (AMC) | 04/30/2026 (AMC) | 7.59% | 6.58% | -14.95% | 9.13% | $25.12B | 10.0000 |
NetApp, Inc.NTAP | 02/26/2026 (AMC) | 05/28/2026 (AMC) | -0.11% | — | 21.77% | — | $23.89B | 10.0000 |
Insulet CorporationPODD | 05/06/2026 (AMC) | 05/06/2026 (AMC) | -6.27% | -4.26% | -37.46% | -3.61% | $10.56B | 10.0000 |
D-Wave Quantum Inc.QBTS | 05/12/2026 (BMO) | 05/12/2026 (BMO) | -4.43% | -10.78% | 27.96% | -15.16% | $7.00B | 10.0000 |
Rigetti Computing, Inc.RGTI | 05/11/2026 (AMC) | 05/11/2026 (AMC) | -4.22% | 0.69% | 20.58% | -16.31% | $5.52B | 10.0000 |
SoundHound AI, Inc.SOUN | 05/07/2026 (AMC) | 05/07/2026 (AMC) | -4.23% | -5.23% | 11.98% | -4.84% | $3.56B | 10.0000 |
| Average | -1.08% | -1.55% | 13.19% | -4.01% | $1.00T | 10.0000 | ||
| Median | -4.23% | -1.78% | 19.27% | -4.23% | $24.50B | 10.0000 | ||
| Std Dev | 9.26% | 5.84% | 24.37% | 9.70% | $1.96T | 0.0% | ||
| Min | -12.17% | -10.78% | -37.46% | -16.31% | $3.56B | 10.0000 | ||
| Max | 21.93% | 6.58% | 58.87% | 9.13% | $5.40T | 10.0000 | ||
| % Positive Tickers | 30.00% | 50.00% | 80.00% | 33.33% |
* Provisional value: before LstRpt% reaches its 2-day post-report lock window (BMO/AMC adjusted), EarningsPerf is calculated from current vs pre-report and then locks to final LstRpt%.