In this episode of the Australian Investors Podcast, Owen Rask and Drew Meredith tackle one of the biggest questions in markets right now: if Micron and Sandisk are wobbling, has the AI trade gone too far, or is the market simply shifting where the real profits sit?
They break down the latest sell-off in AI hardware names, why memory chips and data-centre narratives can look unstoppable right up until margins crack, and why the software layer may still capture more long-term value than the hardware beneath it.
Closer to home, they unpack why the ASX has looked stronger if you own resources and far less exciting if you own almost anything else. That leads into a practical discussion on copper, BHP and whether the next leg of the AI build-out could keep rewarding real assets rather than the names investors have been crowding into.
Along the way, Owen and Drew also answer listener questions on global diversification, whether investors should still want UK exposure inside broad ETFs, how LICs stack up against ETFs in a tougher tax environment, and what EOFY is revealing about super, rebalancing and portfolio construction.
If you want a grounded take on AI hype, copper demand, BHP and where the next investing edge might come from, this episode is a smart place to start.
