Big tech is facing a moment of reckoning.
Sky high valuations that seemed limitless have normalised and the premium that public tech stocks once held over the rest of the market have been largely erased. We’ve seen a spooked market fuel talk of a tech stock unwinding, but the reality is that many of the companies most impacted were likely overvalued. The recent corrections will shake out the companies that have relied on hype and FOMO (also known as fear of missing out) rather than strong fundamentals and robust business models.
