The basic reason why tech stocks are doing badly with increased interest rates is simply that their profits are further out in the future; as interest rates rise, the further out in the future your cash flows are, the more heavily discounted they are.
The basic reason why tech stocks are doing badly with increased interest rates is simply that their profits are further out in the future; as interest rates rise, the further out in the future your cash flows are, the more heavily discounted they are.