Tech's 20 Beaten-Down Stocks Have Sunk up to 65%: Which ETFs Could Ride an AI Rebound?

Key takeaways

• Tech stocks are in bear‑market territory, but key ETFs show mixed technical signals—IGV looks most constructive, AIQ needs confirmation, and SOXX faces limited upside.
• AppLovin down 65%
• CoreWeave down 57%
• Coinbase down 56%

What happened

Twenty technology stocks have fallen 22% to 65% from their highs, with AppLovin Corp. down 65%, CoreWeave Inc. 57%, Coinbase Global Inc. 56%, Western Digital Corp. 52%, Oracle Corp. 50%, and Arm Holdings PLC 49%. The decline spans AI infrastructure, semiconductors, software, and crypto-linked companies, raising questions about whether beaten‑down technology ETFs are near attractive entry points.

Why it matters

The selloff signals potential weakness across the AI and tech sectors, affecting ETFs that track these industries. Investors are evaluating whether the downturn reflects deeper structural issues or temporary pain that could create buying opportunities. The performance of key ETFs—IGV, AIQ, and SOXX—provides clues…

Short-term and longer-term

Short-term. For the next few days, watch IGV’s price action around the $106.64 support; a bounce could signal a short‑term rebound.

Longer-term. Over the coming months, the ETFs’ ability to recover will hinge on earnings growth and valuation normalization in AI and semiconductor sectors.