Tom Lee, co-founder of Fundstrat Global Advisors, is not surprised that U. S. stocks have been hit by the recent rise in bond yields, saying Thursday's correction is an opportunity for long-term investors.

"things have been very difficult and stocks need to be corrected," Lee said. I don't think we should be surprised by the bumps in the market. "

Technology stocks were hit hard this week, NASDAQThe composite index fell 2.1% on Thursday and entered a correction range in intraday trading, down more than 10% from its recent 52-week high. The index has erased all its gains so far this year.

Daniel Ives, a senior technology analyst at Wedbush, has previously said that technology stocks can be bought on the bargain before they rise at least 25 per cent.

Ives believes that the digital transformation has only just begun and will continue for several years in the cloud, web security, e-commerce and 5G enterprises. These sub-sectors are the vitality of the technology world, he said, and consumer and corporate demand will lead to a "multi-year growth boom" in the future.

Wedbush forecasts that technology stocks will rise at least 25 per cent next year. Despite the recent sell-off, Facebook Inc、 Amazon.Com Inc、 Apple Inc、 Netflix、 Alphabet Inc-CL CAlphabet, the parent company, and large enterprises such as cloud and cyber security stocks will be the drivers of growth.