Tech has held up really well, theres no doubt about that but like I said, there hasn't REALLY been any actual reason to dump these shares yet other than the bleeding thats been going on since January. It's all been speculation that X is going to do Y from the fed.
There's definitely signs of demand destruction going on with Target/Walmart/Amazon etc and I don't see how this doesn't dip into Apple, AMD, NVDA, TSLA, MSFT and INTC.
We didn't even get the slowdown in China in Apple's earnings for Q1.
I'll never say Tech is dead and it's never coming back because it can and will, providing of course someone actually turns the fucking wheel away from the iceberg that the US economy is heading towards. In all reality it's hard to believe that inevitably someone WONT try to do something to change course.
The slow bleed is just the anxiety of the slowdown and demand destruction people are speculating on.
The reality is, the fed's rate hikes aren't even affecting these companies yet, if they ever will. What's going on right now is all due to inflation eating into our pockets with rent and every day necessities. Upgrading PC's and buying a VR headset isn't even in the same universe of what's important for the consumer right now.
Tax returns for the poor families has been out for 2-3 months now, with no sign of any helicopter money coming anytime soon with gas prices hitting new highs every day.
Assuming we can naturally push to higher highs without QE, helicopter money, cheap energy, and easy access to near zero rates on mortgages for rentals in the next decade is just unreasonable.
We also don't even have access to all of the world markets we have had for the past decade, Russia for good or bad is still a net negative for global trade.
The ceiling is lower and the hill to climb to that ceiling is even steeper than its ever been.
