According to Bickley, anything related to an antitrust probe is “more hype than substance at this point, because, first, semiconductors are the most volatile sector in the stock market. [Nvidia CEO] Jensen Huang knows full well that this wave that they’re riding at the end of the day will crest, and it will crash, and it will happen violently when it does. They are squeezing everything they can out of the short runway and they are trying to elongate that runway as much as possible.”
As for the DOJ, he said, “if you have reputable names complaining, they are going to take a look at it, but under the Biden administration, the department has been extraordinarily unsuccessful in about every antitrust action they’ve decided to take on. 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 the time that it takes to resolve, this cycle will have already crested, in my opinion. The money will already be made, the damage will already be done … The reality is that we are talking about an anti-competition inquiry for a product that there is really no competition for.”