Not every tech stock fits neatly into what the market thinks is ideal. This means if a tech company didn't push AI hard enough in their earnings calls or had a bad quarter, that's reason enough for Wall Street to shave off a large chunk of that stock's premium. Buying these tech stocks at these lows is a good idea.
I watched it happen. On October 19, 1987, the Dow Jones Industrial Average tumbled 508 points, which was 22.6%. It fell from 2,246.74 at the open to 1,738.74 at the close on the day known as Black Monday. Such a drop would be just shy of 11,000 points today. The market was actually worse than that when taken over two days. The Dow had dropped almost 5% the Friday before. The anxiety over the weekend between the two was terrific.