It's been a brutal year for tech, as markets flee growth stocks in the face of rising interest rates and other headwinds. With inflation figures rising less than expected , however, Big Tech stocks rallied last week on investor hopes that a peak is in sight. BlackRock BlackRock said that 2023 "could well be the year to upend almost three years of growth and tech stocks moving in virtual unison." Because of economic headwinds this year, BlackRock said, relative valuations may now appear more attractive than in recent years, with growth and tech stocks currently undervalued. Others Louis Navellier, chief investment officer at asset manager Navellier & Associates, told CNBC Pro in early November there will be "persistent selling pressure" in tech, since many Big Tech stocks are faltering.

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