Wall Street Week Ahead: Tech stock rebound faces doubters with earnings season ahead

"The biggest positive could be if they could show a control of expenses while keeping at least reasonable growth intact," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey. "It’s a hard balancing act."Valuations for tech and megacap companies have moderated after last year's selloff, though they still stand above those of the broader market.

The firm expects an economic downturn and believes many tech companies have businesses that are resilient to economic uncertainty, said Sameer Samana, a senior global market strategist there. "It’s just too important and too big a weighting not to participate," Samana said. "But the years of handily outperforming the S&P are probably now behind us.”

$NVDA leads gains among tech stocks.

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