Tech stocks still face significant risks of a sell off warns Citigroup.
To me I think could be:
Tech stocks are highly overpriced hence due for a steep correction.
Stock market has priced in the rate cut in Sep
Weakening economy in certain sectors, lower PPI, higher unemployment rate.
US debt in the trillions
Too much money still circulating the market
The Fed cut is to soften the hard landing which is to say the economy is slowing down
China recovery is not there yet and slow despite lax measures Implemented for banks
Geopolitical tensions may explode anytime particularly Russia and Middle East
Consumers are spending less due to high interest rate environment in some countries.
Warren Buffett liquidated Apple stocks by more than half?
So, the environment is very ripe for another steep sell off!!
Are You Willing to Take Over Buffett's Apple Shares?
It's reported that Buffet sold 50% of Apple stock.
Apple's revenue and EPS exceeded expectations, with a decline in iPhone revenue and a decrease in Greater China revenue.
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Will you sell Apple as Buffett?
Or are you willing to take over the Apple shares that Buffett sold?
What's your target price for Apple's decline?
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