Fund managers renew love for tech stocks as interest rates ease

So much for that rotation into value. Technology stocks are back on investors’ shopping lists once again, regardless of their valuations.

Just a month ago, the shares of faster-growing tech companies were being pummeled amid fears that hot inflation readings would push interest rates higher. While consumer prices did indeed jump, interest rates actually have fallen as investors bet that the inflation surge will be short lived. That’s made expensive but promising companies like software makers attractive again.