Retracción del Mercado en Marzo Crea Oportunidad para Acciones Tecnológicas Enfocadas en IA

The market volatility early in March presents a compelling opportunity for long-term investors to reassess their tech stocks exposure. Recent weakness in technology equities, driven by geopolitical uncertainties and profit-taking, has created an attractive entry point for those positioned for the continued AI infrastructure buildout. This dip represents exactly the type of market condition that historically rewards patient investors willing to deploy capital during uncertain periods.

Two Market Forces Supporting Tech Stocks in 2026

The fundamental case for deploying capital into technology equities remains exceptionally strong, underpinned by two dominant forces: earnings growth acceleration and favorable interest rate expectations.

Earnings Momentum in Technology

Corporate earnings represent the cornerstone of equity valuations, and the outlook for tech stocks is accelerating sharply. Wall Street has revised Q1 2026 Tech sector earnings expectations to 24% growth, up significantly from just 12% in early October. This trajectory reflects a broadening recovery extending across 15 of 16 industry sectors, all projected to post year-over-year EPS expansion in 2026. The earnings strength stems directly from the AI infrastructure investment cycle, with hyperscalers budgeting approximately $530 billion in capital expenditure this year—a substantial increase from $400 billion in 2025. TSMC’s January guidance adjustment exemplifies this trend: the company raised its 2026 capex guidance to between $52 billion and $56 billion, well above 2025’s $40.9 billion allocation.

Interest Rate Dynamics

The Federal Reserve’s expected rate-cutting cycle in the back half of 2026 provides additional tailwinds for growth-oriented tech stocks. Lower rates typically reduce the discount rate applied to future earnings, improving valuation multiples for companies with strong growth profiles. Market participants are increasingly confident in this rate trajectory, which removes a key headwind that pressured technology equities in 2024 and early 2025.

ServiceNow: Software Platform Adaptation and 100% Recovery Potential

The Opportunity in AI-Disrupted Software

ServiceNow (NOW) exemplifies a software company that has successfully adapted to the AI transformation, rather than succumbed to it. The stock has declined nearly 50% from its January 2025 highs, creating a substantial valuation reset. If NOW were to recover to those previous levels, investors would realize approximately 100% upside from current prices—reflecting a rare asymmetric risk-reward opportunity in mature tech stocks.

Strategic AI Integration

The company has positioned itself as the “AI control tower for business reinvention,” moving beyond traditional workflow software into enterprise AI orchestration. ServiceNow’s deepened multi-year partnership with OpenAI—announced in January 2026—grants the company direct access to cutting-edge LLM capabilities for agentic AI deployment across enterprise customers. Simultaneously, expanded integration of Anthropic’s Claude models into the ServiceNow AI Platform strengthens its offering against competitors still evaluating AI strategies.

Financial Performance Validates Growth

ServiceNow’s execution remains solid despite market concerns about AI disruption. The company achieved 21-24% annual sales growth throughout 2025, reaching $13.28 billion—more than doubling its 2021 revenue of $5.8 billion. Contract expansion metrics reflect enterprise demand: Q4 2025 brought 244 transactions exceeding $1 million in new annual contract value (up 40% year-over-year), while the customer base of 600+ accounts generating over $5 million ACV expanded 20% versus 2024.

The financial metrics support continued expansion: NOW’s GAAP earnings reached $1.67 per share in 2025, up 22% and representing a remarkable recovery from just $0.23 per share in 2021. Adjusted EPS grew 27%, with 2026-2027 projections showing 20% and 18% revenue growth driving 18% and 20% adjusted earnings increases respectively.

Management Conviction and Technical Support

Recent developments reinforce the investment case. CEO Bill McDermott personally purchased $3 million of NOW shares, explicitly stating the absence of a “better entry point”—a significant signal of management confidence. Additionally, ServiceNow announced a new $5 billion share repurchase authorization, committing capital to reward shareholders at depressed valuations. Technically, NOW shares found support at the 200-day moving average earlier this week after hitting decade-high oversold RSI readings, suggesting institutional accumulation during weakness.

Zacks’ average price target implies 70% upside from current levels, with potential for substantially greater returns if the stock recovers to 2025 highs.

Celestica: Infrastructure Play on AI Hyperscaler Spending Surge

The “Picks and Shovels” AI Beneficiary

While software companies navigate AI integration, infrastructure-focused technology manufacturers stand to benefit more directly from the ongoing capex surge. Celestica (CLS) represents precisely this opportunity—a behind-the-scenes electronics manufacturer designing and building the physical infrastructure that powers AI data centers worldwide.

CLS designs and manufactures high-performance AI servers, networking switches, and sophisticated data-center hardware for multiple hyperscaler customers including the largest cloud operators. The company’s end-market diversification (aerospace & defense, telecom, healthcare technology) provides additional revenue streams while the core AI-driven secular growth dominates current performance.

Exceptional Growth Metrics

Celestica’s financial trajectory demonstrates the power of the AI infrastructure cycle. Revenue expanded 29% in 2025 to $12.39 billion, more than doubling the company’s 2021 revenue base. Adjusted earnings jumped 56% in 2025, while GAAP EPS surged over 90%—continuing a pattern of 65%+ GAAP EPS growth between 2021 and 2024.

The company’s January guidance signals continuation: management projects 2026 revenue growth of 37% and 2027 growth of 39%, reaching $23.66 billion by 2027 (nearly double current levels). Adjusted earnings are expected to expand 46% and 43% respectively during this period.

Capital Deployment and Market Recognition

Celestica’s confidence in future demand drove a significant capital commitment: the company announced $1 billion in planned capex for 2026, fully expected to be funded through operating cash flow generation. CEO Rob Mionis emphasized ongoing support for customers’ “long-term AI infrastructure investments,” signaling visibility into multi-year demand trends.

Wall Street shares this bullish view: 15 of 18 brokerage recommendations tracked by Zacks rate CLS as “Strong Buy,” while the stock earned a Zacks Rank #2 (Buy) designation. The recent 25% pullback from November highs has compressed the valuation to just 30.0X forward 12-month earnings—a 50% discount to previous highs despite stronger fundamentals. Zacks’ average price target suggests 34% upside from current trading levels.

Historical Performance Context

CLS has appreciated approximately 3,000% over the past five years, dramatically outpacing the Zacks Tech sector’s 100% gain. This includes a remarkable 220% climb in the past 12 months alone. The current pullback presents a reacquisition opportunity for investors who missed earlier appreciation, or an addition point for those already committed to the AI infrastructure thesis.

The Strategic Window for Tech Stocks Investors

The convergence of three factors creates an exceptional environment for tech stocks allocation: accelerating earnings growth, favorable rate expectations, and compelling valuations following recent market weakness. ServiceNow and Celestica represent two distinct ways to participate in the AI infrastructure opportunity—one through software transformation, the other through direct hardware manufacturing.

Long-term investors who maintain conviction through short-term volatility have historically been rewarded when deploying capital into quality tech stocks during periods of uncertainty. March’s market dislocation offers precisely such an opportunity for those willing to focus on fundamentals rather than reacting to near-term headlines.