Piper Sandler's Johnson Expects a Deeper Pullback in Tech Stocks

The video discusses the current state of the market, highlighting a potential deeper correction due to overvaluation and negative earnings trends. The coronavirus is identified as a trigger for recent market sell-offs. The discussion includes analysis of valuation metrics like the forward PE ratio and the need for earnings improvement to meet year-end price objectives.

What event is mentioned as the trigger for the recent market sell-off?

• Trade war

• Interest rate hike

• Oil price surge

• Coronavirus outbreak

What is the forward PE ratio mentioned for the market after the recent decline?

• 25 times

• 22 times

• 19 times

• 15 times

What is the consequence of having negative earnings in two consecutive quarters?

• Interest rate cut

• Inflation rise

• Market expansion

• Earnings recession

What is the year-end price objective mentioned in the discussion?

• 3000

• 4000

• 3200

• 3600

What is necessary for the market to reach higher levels according to the discussion?

• Reduced trade deficits

• Lower inflation

• Higher earnings multiples

• Increased interest rates