The S&P 500 has been down for two weeks in a row. The Dow had two triple digit down days last month. What does this mean for tech stock? Should investors be buying or selling?
Paul Meeks, CIO and portfolio manager for Sloy, Dahl & Holst, recently shared his outlook on this topic with Brian Sullivan of CNBC.
According to Meeks, the best place to focus in the technology sector is the leadership names. In this case, it’s a grouping of cloud-oriented companies. This includes:
Meeks notes that all three of these stocks have gone down quite a ways since they announced their June quarterly results. However, while none of these are urgent buys, Meeks says he would initiate the positions of these stocks or slightly add to them. Nothing too aggressive.
Watch the video here: https://www.cnbc.com/video/2017/08/18/the-full-interview-with-paul-meeks.html