Tom Lee thinks we are getting a lot closer to the bottom of this tech selloff than people realize. His argument is that investors have become extremely pessimistic about AI, semiconductors, memory stocks, and technology in general. In fact, betting against tech has become such a popular trade that he believes we could be approaching the final stages of this correction. What's interesting is that the underlying fundamentals haven't deteriorated nearly as much as stock prices suggest. AI demand is still strong, companies are continuing to spend billions building infrastructure, and earnings are holding up. The bigger concern right now is how all of this expansion gets financed, especially with interest rates remaining elevated. @fundstrat also points out that Treasury yields have started coming down and the Federal Reserve could become more supportive. Both would help companies that need significant amounts of capital to fund their growth. Another important point is that his technical analyst, Mark Newton, believes many technology stocks have already fallen toward major support levels. These are price levels where buyers have historically stepped in, although that doesn't guarantee they will hold. Essentially, Lee believes we have a situation where sentiment has become extremely negative while the long term growth story remains intact. He compares this to a compressed spring, where stocks could rebound sharply once the selling pressure starts to ease. I tend to agree with his overall argument. That doesn't mean we can't go lower but I think investors are starting to price in a much worse outcome than what the fundamentals are currently telling us.