Tech could have 10% more downside, but ‘don’t give up’ on the group, longtime investor Paul Meeks says

cnbc2021-05-13

Is tech’s turmoil here to stay?Paul Meeks, who ran the world’s largest technology fund during the late 1990s, saidthe group’s recent pullbackcould worsen amid concerns around rising inflation and ...

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Comments

kyawkh
2021-05-14
kyawkh
Gosh
SHANEYBOY
2021-05-14
SHANEYBOY
Nice
Breakthru
2021-05-13
Breakthru
Tech the way to go in long term
- ngchris:
  Agreed.
- xemrunx:
  At this rate, the correction will make people lose their money when they buy them on a high.
vincent1wwb
2021-05-13
vincent1wwb
oic
March_m
2021-05-13
March_m
It’s the future, but we got to be very patient with it
acumen
2021-05-13
acumen
Cool

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I think we could easily do another 10%\" despite strong earnings and guidance from major tech companies, Meeks said.Meeks, who manages over $800 million in assets, added that tech's near-term future was \"very difficult to predict\" because investors are focused on how inflation and interest rates will impact the sector — not its own relatively healthy fundamentals.\"Don't give up on tech. It's always the most innovative companies on the planet Earth. It's always where you want to be,\" he said. \"They're going to have some great buying opportunities. But it's going to be a bit lower.\"In terms of where to invest, Meeks recently turned positive on a space he once deemed too speculative: cryptocurrencies.While he advised against investing in the cryptocoins themselves, derivative plays such asSquare,PayPalandCoinbasecould offer investors some upside, he said.\"I like those plays. 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