Is Big Tech Finished Or Just Pulling Back?

With the Nasdaq Composite entering correction territory, and the other indexes nearly there as well and likely to follow shortly, there is now concern from investors and analysts as to whether Big Tech has finished, or is just taking a well-deserved and volatile breather, following a dramatic run higher, which catalyzed the move off of the March lows.

Analysts are split as to whether the Nasdaq has completed its run, with some suggesting there is more downside to come, while others expressing optimism for higher prices in the future.

Some analysts appear more jaded on tech, as Apple, along with the majority of the FAANG cohort, relinquished $1 trillion in market value over just the last few days. Valuations also ballooned out of control they said.

“We made a lower low Friday, we’re making a lower low today, so this market is showing weakness after the sell-off, something we haven’t seen since March,” Bianco Research president and macro strategist Jim Bianco said this week. “And that’s why I think that it’s a little early to maybe jump in on the market and that we can probably expect a bit more of a pullback and a bit more of heat around the collar before it’s all over.”

Bianco believes that investors should hold off until they see signals that the market has started to rebound “and then jump in on it on the upside.”

“Even if you go back to March, if you were four or five days early, you would have lost another 15% of your money before the market rallied back, and then it rallied back only to your breakeven point,” Bianco said. “And so you’d be better off just letting this process unfold over time, and then when it seems like it’s on the backside of it, it

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