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MarketWatch First Take: Gloomy forecasts slash tech valuations as Silicon Valley chokes on smoke

A devastating and deadly fire has choked Silicon Valley with smoke for nearly two weeks, making it hard to breathe and clouding the ability to see into the distance.

The view of the Valley’s core industry is not any clearer or easier to stomach at the moment. As the smoke has hung over the Bay Area, dark clouds of doubt have also arrived from Wall Street, as the peak of tech earnings season has ended with little clarity on how long the tech boom can last.

Please see: The best way to donate to victims of the California wildfires

“Similar to the air quality in the Valley, the near-term outlook remains smoky (cloudy) with pockets of demand weakness and uncertain political/tariff effects,” Matthew Ramsay, a Cowen & Co.

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