New Delhi, Jan 23 (TIWN) US technology stocks have been nursing a new year hangover, pushing the Nasdaq into correction territory, The Guardian reported.

Momentum is building against companies with exciting promises to reshape the world, as investors turn to "value" alternatives such as oil and banking, the report said.

The tech sector now faces a crunch fortnight as its biggest names report results, including Microsoft on Tuesday, Tesla on Wednesday and Apple on Thursday. They must prove they can thrive in a post-lockdown world where the cost-of-living squeeze is leaving people with less money for tech products and services, the report said.