There is massive rubble strewn about from a fresh rout in tech stocks. It's unclear if investors are yet willing to pick up perceived bargains from within it, or stay hunkered down, waiting for more bricks to crumble. "The tech love-hate relationship continues. After leading the market higher, technology (tech) has fallen 10% from its peak as investors scrutinize AI capital spending, free cash flow, and the durability of earnings growth," said Truist chief markets strategist Keith Lerner. Lerner added that more downside risk to tech is "possible." The AI trade saw a serious drubbing on Friday, with more than $1 trillion in market value wiped away as investors fretted about the weakening cash flow profiles of Big Tech as it spends aggressively on AI.
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