Just been watching the tech pullback lately and honestly, there's something worth paying attention to here. March's weakness created some interesting entry points for AI and tech stocks, and we're seeing the same pattern now in April. The market got spooked by Middle East tensions and other noise, but the fundamentals underneath? Still solid.

Here's what's actually driving things: earnings and interest rates. Both are supporting equities right now. Look at the capex spending—AI hyperscalers are dumping roughly $530 billion into infrastructure this year, up from $400 billion last year. Taiwan Semi already bumped their 2026 guidance to $52-56 billion. That's the kind of commitment that doesn't disappear on a bad news day.

Wall Street's also getting excited because earnings growth is spreading everywhere. We're looking at 15 out of 16 Zacks sectors posting year-over-year EPS expansion in 2026. Tech sector Q1 earnings guidance jumped to 24% from 18% just weeks ago. The Fed's also expected to cut rates again in the back half of 2026. When you combine that with AI's relentless spending cycle, you get a setup where buying the dip actually makes sense for long-term players.

Let me break down two stocks worth considering when they pull back:

ServiceNow's down nearly 50% from January highs—and yeah, that sounds brutal, but hear me out. The company's basically positioned itself as the 'AI control tower for business reinvention.' They deepened their deal with OpenAI in January and are expanding partnerships with Anthropic to integrate Claude deeper into their platform. Software getting disrupted by AI? Sure, but ServiceNow's not fighting it—they're integrating it.

The numbers are wild. They hit $13.28 billion in revenue for 2025, more than doubling their 2021 total. Q4 saw 244 deals over $1 million in net new contract value, up 40% year-over-year. GAAP earnings grew 22% to $1.67 per share from just $0.23 in 2021. They're projecting 20% revenue growth in 2026 and 18% in 2027, with adjusted earnings expanding 18% and 20% respectively. CEO Bill McDermott just bought $3 million worth of shares himself, saying there's 'no better entry point.' The stock's tripled the broader tech sector since going public, and even after the 50% drop, average price targets suggest 70% upside from here.

Then there's Celestica—a behind-the-scenes powerhouse building the actual infrastructure for AI data centers. Down about 25% from November highs, which is interesting considering what they're doing. They grew revenue 29% in 2025 to $12.39 billion and more than doubled revenue between 2021 and 2025. Adjusted earnings jumped 56% last year, with GAAP EPS up over 90%.

CLS is ramping up capital investments to $1 billion in 2026 because demand for AI data center tech keeps strengthening. They're projecting 37% revenue growth in 2026 and 39% in 2027, potentially reaching $23.66 billion. Adjusted earnings should expand 46% and 43% respectively. The company's up roughly 3,000% over five years versus 100% for the broader tech sector. Even after the recent pullback, it's trading 50% below its highs at 30.0X forward earnings, and brokerage recommendations are heavily weighted toward 'Strong Buy.'

The way I see it, when you've got this kind of capex commitment from AI companies, earnings growth spreading across the economy, and rate cuts potentially coming, buying dip stock opportunities makes sense. These pullbacks are noise against structural tailwinds. Whether it's NOW or CLS, the question isn't really if they'll recover—it's how much upside you're leaving on the table by waiting.