The Rout in Big Tech Has Just Begun, Says Bernstein Advisors’ Suzuki

With Inc. down 33% this year and Meta Platforms Inc. tumbling over 40%, you might expect, or at least hope, the carnage in Big Tech is nearly over. You would probably be wrong, according to Dan Suzuki, deputy chief investment officer at Richard Bernstein Advisors.

Suzuki’s outlook for the sector has been correct so far. In early March, the New York-based strategist published a report describing the six classic signs that indicate tech stocks have hit bottom. His conclusion at the time — that if the tech bubble of more than 20 years ago was any guide, the stocks had farther to fall — has since been borne out.

Suzuki, whose firm takes a top-down, macro approach to the markets and has $15.5 billion under management, says there’s farther to fall even after the recent declines.