Please upgrade your browser

We take your security very seriously. In order to protect you and our systems, we are making changes to all HSBC websites that means some of the oldest web browser versions will no longer be able to access these sites. Generally, the latest versions of a browser (like Edge, Chrome, Safari, etc.) and an operating system family (like Microsoft Windows, MacOS) have the most up-to-date security features.

If you are seeing this message, we have detected that you are using an older, unsupported browser.

See how to update your browser

Investment Weekly

Zooming out after this week’s tech wobble
07 November 2025

    Chart of the week – Zooming out after this week's tech wobble

    Chart of the week – Zooming out after this week's tech wobble

    This week’s volatility in tech stocks shows that despite solid earnings reports for the sector, there is now a much higher bar for big tech names to perform in a backdrop where phenomenal capex spend is increasingly scrutinised. While AI remains an important theme for investors, and a driver of potentially significant returns, it can be helpful to take a step back and zoom out to the bigger picture: what could investment returns look like over the coming years rather than next 6-12 months?

    More from this week:

    Market Spotlight

    • Democratising private equity

    Lens on…

    • Same destination but different roads
    • A new Korea
    • Yen and bear it

    Read the full commentary PDF, 3.36MB