United States technology stocks, renowned for their mind-boggling valuations and skyrocketing share prices, were dealt a blow in February after a string of disappointing earnings results spooked investors who sold down companies such as LinkedIn, Amazon, Twitter, Google's owner Alphabet and Facebook.

How much of the sell-down is a knee-jerk reaction or a genuine shift in investor appetite for companies trading at up to 50 times forward earnings remains to be seen. It is not easy for Australian investors to access these stocks either, but sentiment towards the sector globally will have an influence on local technology stocks.