Tech stocks have made big V-shaped rebounds five times in 30 months — and now Deutsche Bank forecasts another bounce

Tech stocks have staged five sharp V-shaped rebounds in roughly 30 months, and Deutsche Bank now expects another. The bank's argument rests on positioning: equity investors appear to have priced tech for much slower earnings growth than the sector is actually delivering. In other words, sentiment has cooled faster than fundamentals, leaving a gap the bank believes favors an overweight stance.

The pattern itself is worth noting. Repeated V-shaped recoveries suggest investors have repeatedly sold tech on macro worries and bought back on resilient results. That doesn't guarantee a sixth bounce, but it does show how quickly sentiment in the sector can reverse when earnings hold up.

What to watch: whether upcoming earnings reports confirm the growth Deutsche Bank cites, and whether positioning data show investors already beginning to rotate back. Also monitor whether the "out of fashion" dynamic persists — if selling continues despite steady results, the gap the bank identifies could widen. The key risk is that slower growth does arrive, which would undercut the thesis. For now, the debate is less about tech's quality than about how much pessimism is already reflected in prices.