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What it means for tech investors

Tech giants Apple and NVIDIA are falling from their recent highs. Yahoo Finance Markets Reporter Jared Blikre delves into the stocks’ unexpected downturns.

Apple (AAPL) shares fell in Wednesday’s trading following a report that China is banning government officials from using iPhones for work. Blikre points out that history has shown that when Apple’s fall from grace is swift, it often leads to a prolonged decline, signifying a potential rocky road ahead for its shares.

Adding to the tech turmoil, NVIDIA (NVDA) struggled to surpass its earnings day high of $499, causing concern among investors. While NVIDIA shares remain close to their record high, Blikre breaks down the chart to show why investors may want to be cautious.

Despite these setbacks, Blikre highlights some positive indicators in the tech sector, with the Technology Select Sector SPDR Fund (XLK) showing promise due to an upcoming double top formation. Similarly, iShares Expanded-Tech Software (IGV) surged by nearly 5 percent over the last month, outperforming competitors like iShares Trust- iShares Semiconductor (SOXX), which fell by about a one percent.