The Coming Cold Reality for Tech Stocks

Technology investors from Silicon Valley and beyond, beware. The industry is on the cusp of a sea change in tech investment as capital requirements are outpacing even the largest venture firms' funding abilities, while major product rollouts are failing at unexpected and unprecedented levels, indicating a shift in their consumer bases. This trend is moving at fiber optic speed. If you have money invested in tech, you need to read this new report, right now—it's a quick 5-minute read, directly from the desks of our top analysts, 100% free.

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A Trend No One Else is Tweeting About … Yet

Last year, as the NASDAQ Composite finally managed to rally to a new all-time high for the first time since 2000, many technology enthusiasts insisted that this time the rally was on "more solid ground than its counterpart in 2000."

We countered that bullish imaginations were inflamed nearly as much as they were then and stated that the "technology euphoria [of 2015] was powerful enough to fuel another outsized retrenchment by the NASDAQ."

As the index topped in July, we noted the dominance of a few tech heavyweights and stated that the sector was "falling in line with the nascent bear market." At the end of 2015, the champagne corks were still popping, and we quoted widespread expressions of a "limitless belief in technology." While sentiment toward technology "remained effervescent," we observed the narrowing participation of tech stocks and stated that it was a sure sign that the technology sector was ready for its next sobering.

Dive in with us as we explore what's next and get you up to speed with the fast-moving trends in tech stocks. From Apple to Square, Twitter to Tesla, Facebook to Fitbit—a cold new reality is coming for the tech industry.

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Meet Your Authors

Steven Hochberg Chief Market Analyst

Steven Hochberg’s analysis keeps subscribers ahead of the trends in U.S. stock indexes, as well as global indexes, bonds, precious metals, the U.S. dollar and the economy. He co-edits our flagship monthly Elliott Wave Financial Forecast and edits our Monday-Wednesday-Friday Short Term Update. One of the world's foremost experts in Elliott wave forecasting, Steven is a sought-after speaker interviewed numerous times for his market views by Barron's, Bloomberg, CNBC, MSNBC, Los Angeles Times, Washington Post and other media outlets. Steven began his career at Merrill Lynch and joined EWI in 1994.


Peter Kendall Chief Analyst for U.S. Markets and Cultural Trends

Peter Kendall has been a market analyst and editor at Elliott Wave International since 1992. In 1996, he edited Prechter’s Perspective, a series of interviews drawn from Robert Prechter’s media commentary. In addition to charting the course of the financial markets, he places the markets within the larger context of big-picture Elliott wave trends in social mood. From the heights of skyscrapers and hemlines to the depths of disco and punk rock, Peter’s insights show EWI’s subscribers why these trends are part and parcel of patterned and predictable Elliott waves. Together with Steven Hochberg, Peter co-edits our monthly Elliott Wave Financial Forecast and on occasion contributes to our U.S. Short Term Update. In 2009, together with Robert Prechter, he co-authored The Mania Chronicles.