Tech Earnings Season Sell-Off
Tech stocks are likely to be sold off in droves after a disastrous earnings season.
Too little corroboration in the last 3 days to call a trend (19 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
"Sandisk, KLA, Lam Research, Marvell Technology, Applied Materials, Seagate Technology and Western Digital each fell more than 15 per cent as investors accelerated their exit from some of the last quarter's highest flyers. A key semiconductor index shed more than 6 per cent."
"The Nasdaq and S&P 500 closed lower on Wednesday, dragged by tech stocks on nagging concerns about high-flying valuations"
"The Nasdaq and S&P 500 closed lower on Wednesday as tech stocks continued to struggle with high valuations"
"The Nasdaq and S&P 500 fell Wednesday afternoon as concerns about high-flying tech stock valuations persisted, erasing morning gains"
"The Nasdaq and S&P 500 indices experienced declines on Wednesday afternoon, reflecting ongoing concerns about elevated tech stock valuations."
"the Nasdaq and S&P 500 closed lower on Wednesday primarily due to tech stocks facing scrutiny over high valuations"
"Most big tech companies witnessed a bout of profit booking on Monday, led by Alphabet, whose shares fell 5% after two major high profile exits. Shares of Nvidia, Meta, Microsoft, Amazon were also down between 1% and 5% on Monday."
"The Nasdaq 100 Index dropped 2% as traders were rattled by a renewed selloff in some of the world’s largest tech companies."
"Equities looked set for more losses after a tech-led selloff on Wall Street Friday."
"The excess positioning in those AI names is being unwound today and it’s moving into lesser owned areas of the market like staples, healthcare, utilities."