In Wednesday's meeting with tech leaders, President-Elect Donald Trump bragged that his election had given the stock market a “bounce.” It was the wrong audience for the remark.

While the S&P 500 is up 6% since the election, tech stocks have generally not done as well. Some are up a little—Apple is up around 4% while Alphabet is up about half a percentage point. Others are down, most noticeably Facebook, which has dropped 3% since the election while Amazon is down 1.7%. (See chart above.)