Core Viewpoint - Hedge funds are rapidly reducing their risk exposure to U.S. technology, media, and telecommunications (TMT) stocks at the fastest pace since July 2024, with long positions being sold off more quickly than short positions are being covered [1] Group 1: Hedge Fund Activity - Hedge funds have decreased their risk exposure to TMT stocks, particularly in the semiconductor and semiconductor equipment, software, IT services, and media sectors [1] - The pace of selling long positions has outstripped the covering of short positions, indicating a significant shift in market sentiment [1] Group 2: Upcoming Earnings Reports - The technology sector is entering a peak earnings season, with major companies such as Amazon, Apple, Meta Platforms Inc., and Microsoft scheduled to report their earnings this week [1]