Worse yet, top tech companies got smacked by the slowing economy so quickly that they not only miss their estimates, but they've spooked investors by saying they have no clue as to when things will improve. Keep in mind that investors traditionally pay a premium for technology stocks, because they grow quickly. But when that growth rate comes into question, investors aren't willing to pay the high prices they once were. Tech stocks are left in an interesting position. But we're still a ways from that.
Tech companies resume their traditional growth rates.
Until either one of these things happens, expect tech stocks to be stuck in the doldrums. Matt can't answer e-mail messages personally, but we'll publish the answers to many questions in upcoming columns.