Dot-Com Ghosts Haunt Emerging Stocks as Tech Profits Stall
- Emerging-market tech earnings have fallen below estimates
- Declines in sector mirroring that of dot-com slump in 2000
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The deepest bear market since the financial crisis in developing-nation technology stocks probably has further to run as earnings disappoint and analysts slash their profit estimates.
Companies in the MSCI emerging-market tech gauge are missing earnings forecasts for the first time in almost 18 months, based on 12-month rolling data. Combined with deepening trade tensions, that’s leading analysts to cut their profit forecasts for an industry dominated by Taiwanese semiconductor makers and Chinese Internet firms.