Tech stocks not part of post election rally

Few in Silicon Valley supported Donald Trump.  Not to suggest that Trump is a vengeful man, but one can safely expect no favors for big tech in the near term.  During the campaign Trump attacked Jeff Bezos and Amazon with belligerent lies and threats as the Bezos owned Washington Post did some investigative reporting that was not favorable to the candidate.  Trump's focus on domestic production led to swipes at companies like Apple that have a global production model. Additionally, tech stocks are not front and center of the type of industrial, fossil fuel, and infrastructure investments that Trump will support to stimulate the economy, so other areas can take center stage at least for now.

Apple, Google(Alphabet), Amazon, Facebook, Adobe, Netflix, and others have fallen sharply over the last two market days.  Trump's nationalism and his inclination to set up trade barriers are not friendly to these businesses focused on the future.  During the campaign Trump hearkened back to a past of industrial might without the huge employee reductions enabled by technology today, without the least thought of climate change and pollution, and without global supply chains. His plan to recreate the glorious past is completely unclear, but his verbiage fueled the anger of dislocated and wistful workers who have viewed their opportunity as diminished in the last 20 years.

These big tech stocks could represent a significant buying opportunity soon if their erosion continues. Trump can ruin many things but he can't turn back time.