People work with prejudice, if they are aware of it or not. A bunch of companies from the tech sector have managed to earn absurdly high valuations in a short timespan by successfully monopolizing a winner-takes-all market for a service with high initial cost but very low additional cost per customer. This situation is pretty uniquely found only for a certain subset of digital services, but people have already generalized this kind of approach into the word "tech company" - even though far from all tech companies operate in such kind of markets.
What we see now is the second stage of this: companies which have a marginal involvement of technology in their core business (which is true for basically all companies today) try to paint themselves as "tech companies", with the goal being that investors put them in the same box as Amazon, Microsoft, Netflix, Salesforce et cetera.
And since investors are just as stupid as anyone else and just as susceptible to fall for herd-like behavior as anybody, this strategy works to a certain degree.
