Fidelity's Chisholm: Tech Stocks Can Keep 'Climbing the Wall of Worry'

Fidelity's Denise Chisholm joins Ed Ludlow on "Bloomberg Tech" to explain why technology stocks may still have room to run despite widespread concerns. She points out that the sector has undergone an unusually large valuation reset even as earnings expectations continue to rise, a combination that could position tech for further gains. Chisholm discusses why tech's roughly 30% multiple contraction may already reflect worries about slowing AI and technology spending. She also notes that historical data suggests a slowdown in tech capital expenditures does not necessarily translate into a contraction, offering a counterpoint to bearish narratives. The interview delivers a data-driven perspective on one of the market's most closely watched sectors. It is part of Bloomberg Tech's ongoing analysis of the forces driving technology stocks and the broader economy.