Technology stocks are down a lot from their recent peaks.
Some tech darlings like Pinterest, Roku, Snap, Peloton, Robinhood Markets are down more than 40 %.
In my opinion, the technology stocks in the US and Nasdaq Composite Index, especially, if they fall another 10 % -20 % will become grossly undervalued.
I do not see what changed all of a sudden, aside from the Federal Reserve showing clear intention to raise interest rate levels to fight inflation.
Many technology stocks have sound business models and technology and the artificial intelligence algorithms are the future because they save corporations, people and governments time, effort and money.
It is simply astounding and unbelievable what human psychology, herd instincts, fear and short term mentality can cause. Benjamin Graham, at his finest and purest form.
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