> I never understood this reaction the market is having. It's like reading the tea leaves - effectively random and not helpful.

You're exactly right.

People in the US treat the market like the Oracle of Delphi. It's really just a bunch of people who don't have a grasp on things like AI or the tech industry at large placing wagers on who's gonna make the most money in those fields.

And you can apply that to most fields that publicly-traded companies operate in.