Over the past three months, analyst 2024 earnings projections for mega-cap technology stocks, such as Amazon.com (AMZN) and Meta Platforms (META), have risen by more than +10%, according to Bloomberg data. The fear is that the Fed’s intention to keep interest rates higher for longer to curb inflation could knock the economy into recession and fuel a slide in high-valuation technology stocks. However, DataTrek Research believes recession fears may trump artificial intelligence (AI) euphoria, saying, “Tech stocks have had an orderly selloff despite higher rates because the market thinks their earnings will continue to hold up.