I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

Good Friday morning. Welcome to Tech Check. I'm Carl Kintania with your Drubosa. John Ford has the morning off. Today, the ruckus of Roku. Why shares are plunging double digits this morning and where they might go from here. Then doing the Chimath. As Chimath, Paula Hopatia steps down as Virgin Galactics Chairman, what does that mean for the company? What about his other SPACs? We're going to discuss that. Finally, you don't want to miss Dropbox CEO Drew Houston this hour, talking about earnings, the cloud, remote work, and a whole lot more on top of all the geopolitical tensions. Busy hour, Dee. Busy indeed. Stocks, meanwhile, they're lower after big risk-off move into the close yesterday.

The Dow's seeing its worst day since November 2021, and the NASDAQ is now on pace for its second consecutive week of losses with so many names under pressure.

It's now the time to put your money to work. Dom Chu has screened all of the S&P tax sector, joins us with some of the cheaper names, Dom. You're looking at one valuation in particular, and that's price to earnings. That's right, on a forward basis, because a lot of traders and investors like to look at that forward price to earnings ratio as a way to gauge what the prospects are today, the price you pay, for next year's anticipated

earnings.

Now, if you take a look at the S&P 500 tech sector versus the broader market overall, you

can see underperformance in tech, and that's led some people to say, hey, it's the S&P 500's

biggest and most important, arguably sector in the entire market.

Can I find certain values there?

We're going to look at those low PE stocks because on a 10-year basis, over the first part of the last decade, you did see the S&P 500 generally outperform in terms of the overall kind of market.

The sector-wise valuation now stands at around 25 times forward earnings for the

S&P 500 technology sector. It's closer to around 20 times for the broader S&P 500 overall,

indicating that there is, in fact, a premium put on valuations there within that overall sector.

If you take a look at some of the stocks that are kind of in play right now,

we decided to do a screen. And in that screen, what we wanted to look for was all of the technology

stocks in the S&P 500, and that's roughly 75 of them. We took a look at those ones that have generally

had a positive year, 12-month price performance that's been to the upside. Meanwhile, what you've had

are sell-offs in just the last few months here, so a year-to-date negative performance for that

particular, at least those particular stocks. Among those, we found 22 that have price to earnings

ratios on a forward basis of 25 or less. The reason why 25 is important is because

that's the overall forward PE of the sector. With that in mind, we took a look at these ones,

the mega cap names that fit all of those criteria. First of all, you've got a chipmaker in

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