Evercore’s chief equity strategist Julian Emanuel told Bloomberg Television that tech shares could rebound as earnings materialize after a recent sell‑off that saw giants drop more than 10 % in weeks. He warned investors that a rally would likely bring extra churn and volatility before a turnaround for the next few trading days and a new price target.

The dip followed a rout in South Korea where SK Hynix and Samsung Electronics fell over 12 % each, shaking the Nasdaq 100 and erasing June gains that had risen 10 % and 16 % in April and May. Alphabet and Amazon fell 5 % and 4.8 % respectively, while Microsoft slid nearly 20 % this month as the broader index lingers.

Chip names remain bright, buoyed by Micron Technology’s 6.8 % jump after a deal with Anthropic and a projected Q3 revenue lift of 18 % above forecasts, driven by higher prices. Emanuel said the sector’s heavy‑lifting lies in these names and that a refreshed attitude toward the Mag 7 could follow as earnings validate the rebound firmly.

Emanuel highlighted that the current bull market, almost three years old, has seen earnings and price sync at certain moments. He believes this period will see the Mag 7 recover, provided investors embrace a new narrative. Market participants should monitor earnings releases, as they will be the decisive factor in restoring confidence for the tech sector.