What happens to my tech stocks in the selloff?
Highly valued tech stocks (Nvidia, Apple, Microsoft, Tesla) are correcting 10–20% while defensive sectors hold up. Here's the analysis — what's a routine correction, what's a structural break, and what to do now.
I dati chiave
- Nasdaq-100 has dropped ~12% from its high — historically a standard correction, not a crisis.
- Nvidia is particularly hit by China export restrictions on H100/B100 chips.
- AI capex growth is slowing from +60% to +25% — still very strong, but no longer hyper-growth.
- Defensive sectors (healthcare, utilities, consumer staples) have been outperforming for 4 weeks.
- On Nasdaq corrections >15%, historically a rally follows within 6–9 months in 75% of cases.
Possibili beneficiari
Defensive stocks that stay relatively stable during tech corrections:
Azioni sotto pressione
Tech stocks with the biggest drawdown — opportunity or falling knife?
Cosa dovresti fare adesso
Keep your savings plan running
If you have an MSCI World, Nasdaq-100 or S&P 500 savings plan: just keep it running. Cost-averaging works exactly in phases like this. Pausing now removes the biggest advantage of savings plans.
Look at valuations, not prices
Nvidia at P/E 28 is much more attractive than P/E 65 three months ago. Look at forward P/E and PEG ratio, not just the absolute price. A stock can be down 30% and still expensive.
No all-in, but tranches
If Nvidia/Tesla are on your buy list: 3–5 tranches over 6–10 weeks. Nobody catches the absolute bottom. Trade Republic, Scalable and Flatex allow buys from €1 — perfect for tranche strategy.
Tax-loss harvesting
In Austria, realised losses offset stock gains (KESt offsetting). If you want to sell a small loss position out of conviction, do it before year-end — the loss reduces your tax.
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FAQ — Domande frequenti in questa crisi
Should I buy more Nvidia now?
At -25% from the high and forward P/E ~28: if you hold Nvidia long-term and are underweight (<5%), tranche buying makes sense. If full position: do nothing. Warning: AI capex could slow further — no all-in position.
Should I sell my MSCI World ETF now?
No, never during a correction. The MSCI World is broadly diversified (1,500 stocks) and has recovered EVERY correction within 12–24 months over the last 50 years. Selling is the most common beginner trap.
What's the difference between a correction and a crash?
Correction: -10 to -20% from high, duration 1–6 months, normal market move. Crash: -20% or more, often paired with fundamental break (banking crisis, pandemic). Right now: clear correction, no crash. Even at -20% Nasdaq, top-10 fundamentals are stable.
Are tech ETFs a good idea now?
A savings plan on a Nasdaq-100 ETF (e.g. iShares Nasdaq-100 UCITS, ISIN IE00B53SZB19) makes sense in any correction — you buy cheaper. Lump sum: better staggered over 3–6 months.
Which defensive stocks make sense?
Classic defensives: Procter & Gamble, Johnson & Johnson, Coca-Cola, Nestlé, Walmart. All with 2–4% dividends, low beta (<1), stable business models. A 20–30% satellite to cushion tech volatility.