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there's been a rotation out of technology because of the prospect of interest rates going up. because most technology companies don't generate earnings (profits

there's been a rotation out of technology because of the prospect of interest rates going up. because most technology companies don't generate earnings (profits) for many years, and because many investors use DCF (discounted cash flow calculations) to value a company. the greater the interest rate, the lower the value for these business. that's why it's a broad sell-off.

danielmarkbruce 5y ago
It's a nice, coherent narrative. It sits so nicely in a human brain. It's incomplete. Several companies had big earnings misses. Docusign is the obvious example. Twilio missed. Zoom. Big drops. Anytime you have a really coherent narrative in the stock market, you are missing something.