Excess Returns · Tuesday, August 11, 2026
Dom Rizziolan, portfolio manager for T. Rowe Price's Global Technology Equity Strategy, likens the current market volatility to the 1998 tech sell-off, suggesting it could be a similar buying opportunity. He notes similarities in high momentum factor, geopolitical shocks, and hedge fund issues, but highlights a key difference in the semiconductor industry's revenue growth.
“This feels a lot like the 1998 sell-off to me, which proved to be an incredible buying opportunity.”
“So, kind of, kind of if you did rewind to 1997, '98, I think there are a couple similarities.”
“So, some similarities, not perfect, but I think overall thinking about this as a 1998 style correction that results in an even stronger follow on, is kind of a good mental framing.”