Is The Technology Sector Oversold And Will It Bounce In 2023?

The technology heavy Nasdaq index is down 34% year-to-date, trading at close to year lows. Even Cathie Wood’s Ark Investment Management has lost almost $50 billion in assets from its stable of exchange traded funds since its 2021 peak. With the market expecting interest rates to peak in the US in 1Q23 with a Fed Funds rate of just above 5%, does this mean that the worst is behind us and funds could start to flow into the sector in 2023? For insights, we speak to Dan Ives, Managing Director of Wedbush Securities.

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