Tech Valuation Stretch Correction
Technology stocks are vulnerable to correction after an extended rally of 11 weekly gains in the last 12 weeks
Too little corroboration in the last 3 days to call a trend (4 articles). Watching for it to gain traction.
"recent sharp declines in semiconductor stocks have brought many of them close to their 200-day moving averages, raising questions over whether the correction is merely a technical unwinding of leveraged positions or an early signal of slowing capital expenditure by global hyperscalers."
"The volatility was calmer than the heavy selling seen a day earlier, when worries about stretched technology valuations sent semiconductor shares tumbling across the region."
"The Nasdaq and S&P 500 closed lower on Wednesday, dragged by tech stocks on nagging concerns about high-flying valuations"
"The S&P fell 1% and is coming off 11 weekly gains out of the last 12, led largely by technology stocks. The Nasdaq composite fell 1.5%."