Tech stocks are confronting a challenge they haven't had to worry about in a while

Angst. That's the one word now confronting popular tech stocks. "Tech angst stems from the mood in software," Evercore ISI strategist Julian Emanuel pointed out. "Existential concerns and momentum in other parts of the [tech] sector with a more visible path to monetizing AI — spilling into AI/Hyperscalers. Price action sets the (now cautious) narrative. AI itself faces question on adoption, leverage, circular financing, and overspending," he added. Long biased tech-centric investors are as defensive as ...