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Big Tech stocks haven't been this cheap in months. These investors say it's time to buy.
The 'Magnificent Seven' have become the 'Lag-nificent Seven', one analyst joked. The "Magnificent Seven" have struggled since October, but better days could be coming, one portfolio manager said.The so-called "Magnificent Seven" have gone from stock-market leaders to stock-market laggards. But amid the most persistent bout of underperformance for those Big Tech names since the start of the bull market more than three years ago, some see an opportunity to buy.J.C. Parets, a market technician and founder of TrendLabs, joked that the "Magnificent Seven" have become the "Lag-nificent Seven." He said positioning in those stocks became extremely crowded last year. Now, some of that has unwound. While Parets said he doesn't expect investors to pile back into those names to such an aggressive degree, the latest bout of weakness could be a buying opportunity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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