The Outlook For Technology Stocks

“Momentum builds going up and it could suddenly build in the other direction,” said David Kass, a finance professor at the University of Maryland.

He argued, however, that most of the sell reflects anxiety rather than fundamentals.

“There’s the psychology of the market, maybe even an element of panic entering investment decisions,” he said. “I still think technology stocks remain the leaders because that’s where the growth is, but valuations have come down, as they should have.”