According to Bickley, anything involving an antitrust investigation is “more hype than substance right now, because, first of all, semiconductors are the most volatile sector of the stock market. (Nvidia CEO) Jensen Huang knows full well that this wave they’re riding at the end of the day is going to peak and crash and crash violently. They’re milking the short runway for all it’s worth and they’re trying to stretch it out as long as possible.”
As for the Justice Department, he said, “if you have high-profile people complaining, they’re going to look at it, but under the Biden administration, the department has had extraordinary success in almost every antitrust action it’s decided to take. Just because they’re looking at it doesn’t mean they’re going to do anything about it.”
“By the time they do something about it, and however long it takes to resolve it, this cycle will have already peaked, in my opinion. The money will have already been made, the damage will have already been done… The reality is that we are talking about an anti-competitive investigation for a product for which there is really no competition.”
