Why Tech Isn't Synonymous With Growth Anymore: Everything Risk – Bloomberg

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Technology stocks probably won’t lead the next bull market.  Not only is the great post-Internet digitization wave near complete, lots of so-called tech stocks aren’t really in the tech business. As a slowdown in 2023 takes form, a sorting out in the technology space that already began last year should gather pace.
If I told you a company was growing revenue by 30% a year and half of its incremental revenue falls to the bottom line because its business was “scalable,” wouldn’t you be excited to invest? In the post-2008 world, many were. With markets haunted first by the specter of so-called secular stagnation and then upended by the pandemic, companies that sold  narratives like that were the leaders.

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