Denise Chisholm

Tech’s 30% Valuation Reset Has Historically Favored Further Gains

Fidelity’s Denise Chisholm argues that a rare valuation reset has improved the outlook for technology stocks, even as investors worry that AI and other tech spending may slow. The sector’s multiple has contracted about 30% while earnings expectations continue to rise; Chisholm says history suggests such a correction often leaves room for further gains, and that slower technology investment has not usually meant contraction.