Technology is not only an important factor that promotes economic growth but also a useful tool that enables the competitive advantage of individual firms. This study examines how performance feedback influences firms' decisions regarding technological scope and investigates the moderating effects of the recency of reference technology and technology maturity. These moderating variables were selected because they are expected to be closely related to new learning opportunities and the organization's propensity toward risk. The empirical findings show that when performance falls short of expectations, the worse the performance, the more firms tend to expand their technological scope. Expansion of technological scope generally entails higher risk compared to concentrating R&D in a specific domain, which is consistent with prior research suggesting that poorer performance strengthens the tendency to attempt risky challenges. Regarding moderation effects, the recency of reference technology shows somewhat mixed results depending on the relative position of performance against the aspiration level. When performance exceeds expectations, the more recent the reference technology, the stronger the negative relationship between technological scope and past performance. This is likely because firms that have continuously incorporated the latest external technologies into their technology assets perceive that few new learning opportunities remain. In other words, the recency of reference technology has the effect of weakening the impetus for technological change. When performance falls below expectations, the opposite effect was observed, which is likely because some firms, feeling their very survival is threatened, desperately attempt large-scale technological changes. In contrast, the moderating effect of technology maturity shows consistent results indicating that firms with immature technologies exhibit a stronger tendency toward the success-strategy continuity pattern. This reflects the fact that for firms possessing immature technologies, the core concern is improving the performance of that technology to gain market acceptance rather than achieving short-term financial performance. This study contributes to empirical research on technology strategy by applying existing performance feedback theory to the determinants of technological scope and additionally integrating firms' learning and risk propensities.