Twenty technology stocks have entered bear market territory, with declines ranging from 22% to 65% from their respective highs. The selloff spans AI infrastructure, semiconductors, software and crypto-linked companies, raising questions about whether beaten-down technology ETFs are approaching attractive entry points.
AppLovin Corp. (NASDAQ:APP) leads the declines at 65%, followed by CoreWeave Inc.
(NASDAQ:CRWV), down 57%, and Coinbase Global Inc. (NASDAQ:COIN), down 56%.
Western Digital Corp. (NASDAQ:WDC) has fallen 52%, Oracle Corp.
(NYSE:ORCL) 50%, and Arm Holdings PLC (NASDAQ:ARM) 49%, The Kobeissi Letter pointed out in a post on X. Tech Stocks in Bear Market Territory:1.
AppLovin, $APP: -65%2. CoreWeave, $CRWV: -57%3.
Coinbase, $COIN: -56%4. Western Digital, $WDC: -52%5.
Oracle, $ORCL: -50%6. Arm Holdings, $ARM: -49%7.
Circle, $CRCL: -44%8. Sandisk, $SNDK: -42%9.
co/CuUwtwaw5V— The Kobeissi Letter (@KobeissiLetter) October 29, 2026 For ETF investors, the question is whether the selloff presents a buying opportunity or signals deeper problems with the AI trade. 64.
If the ETF continues to decline, this level may attract buying interest, providing a cushion against further losses. 76 from the past year serves as a significant resistance point.
A move back towards this level would require strong bullish momentum, particularly in light of the recent downward pressure, according to Benzinga Pro analysis. 7 million shares early in Thursday’s session.
5, below the conventional overbought threshold of 70. These readings suggest a constructive trend, although a sustained breakout would provide stronger confirmation.
83 at the time of publication on Thursday, according to Benzinga Pro data. 3% below the recent short-term average, indicating a potential bearish sentiment in the market as traders may be reacting to broader economic indicators or sector-specific news.
5% above its longer-term average, suggesting that while there may be short-term volatility, the overall trend has been positive in the longer run. 26 highlights the significant fluctuations in price, with the current level reflecting a pullback from recent highs.
25, while its MACD remained negative, suggesting a possible early recovery rather than a confirmed bullish reversal. 50 alongside improving momentum would strengthen the case.
17 at the time of publication on Thursday, according to Benzinga Pro data. 1% below a key resistance level, indicating a potential struggle to regain upward momentum.
4% above a significant support level, suggesting that there is still a buffer against deeper declines in the near term. Are These ETFs a Buy?
The broad selloff highlights risks across the AI investment chain, from infrastructure spending to software valuations. IGV currently has the most constructive technical profile, AIQ needs confirmation of a recovery, and SOXX warrants caution if momentum remains stretched.
None is a confirmed bargain. Investors should look for sustained price strength, improving earnings expectations and valuations that justify future growth before treating the downturn as a buying opportunity.
