Tom Lee Says Tech Stocks Could Rally 15% to 20% From Current Levels

Fundstrat's Tom Lee believes technology stocks could rebound 15% to 20% as investors rebuild equity exposure heading into year-end.
Key points behind the outlook:
- Today's market reaction appears overdone, with a Citadel note suggesting investors could increase equity exposure before year-end.
- Roughly 50% of hedge funds focus on technology, media and telecommunications, making a return to tech more likely than a defensive rotation into stocks such as Coca-Cola ($KO).
- Hyperscalers could lead a potential 15% to 20% tech rally as investors return to the sector following its sharp correction.