Editorial companion

What stands out

Matt Orton of Raymond James Investment Management called recent market moves an overreaction to fears that AI-driven revenue growth is about to peak, pointing out that major cloud providers and 'hyperscalers' have interest coverage ratios he described as "incredibly healthy" and can largely self-fund their AI spending. That observation matters because it reframes the selloff as a balance-sheet story rather than an earnings-per-share (EPS) collapse, suggesting credit strength could mute downside for large-cap tech names even if near-term growth slows.