Most AI stocks are priced for perfection.

Most AI hardware companies reported perfect quarters; but when a stock is priced like this, the market expects even more.

This is why the market has breathers and why reactions to earnings are so important - they give you an idea of how market participants judge current risk.

After these past three weeks, the market seems to be telling us that perfection was delivered, but it wasn't enough to push prices much higher.

This is a sign.