Is It Time To Buy Some Tech Stocks? Which stock would you buy with large positions?
The Market of Stocks gave us a glimmer of hope today.⭐
All major indexes closed green. The $S&P 500(.SPX)$ recovered 2.14%, the $NASDAQ(.IXIC)$ climbed 2.92% and the $DJIA(.DJI)$ jumped 1.82%.
Especially the Nasdaq, entered in bear-mode yesterday, gave a surprise today. Look at the heat map, it is a green sea.
How bad is this current selloff (mostly technology stocks)?
Going back 20 years, this is the WORST quarter for a equally waited portfolio of The Nasdaq 100 and bonds:
This chart indicates that buying tech stocks when they get this bad, has been rewarding.
While these wild swings can be unnerving, especially for newer investors, history has conclusively shown that buying during these dips is a smart move for long-term investors. That's because every notable decline in the stock market is eventually erased by a bull market rally.
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Is It Time To Buy Some Tech Stocks? Which stock would you buy with large positions?
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Ever since$Amazon.com(AMZN)$ announced a giant 20 for 1 stock split, I have been eyeing to buy it. For me it is a golden opportunity to jump in on the bandwagon to own a share of the King of ECommerce!
Amazon is a phenomenal conglomerate with its fingers in many pies. It is on cloud computing, advertising. video streaming, health care and drugs prescription services and even EV through its 20% ownership in Rivian.
It is also planning a massive 10 Billion share buy back too. With so many growth drivers and a wide moat, I can envision a future of exponential growth ahead. Amazon's fundamentals are solid with a great balance sheet and growing profits!
Amazon, here I come!🚀🚀🚀🌛🌛🌛💰💰💰
@MillionaireTiger Is it time to buy Some Tech stocks?
@TigerStars
$Microsoft(MSFT)$ : every company needs to use their products.
$Amazon.com(AMZN)$ : the in thing - cloud.enivornmental friendly, no pc
People can don't drive (eg. Tesla), can don't do shopping or gaming (eg. Sea) or can don't do social media (eg. Facebook).
But end of the day, they still need handphones.
It is time to buy some to hold for long.
For me, I'll be buying $Tesla Motors(TSLA)$ , $Sea Ltd(SE)$ and $HP Inc(HPQ)$ .
One of the top sectors fuelling price recovery of S&P500 has been positive performance of Tech, not surprising with its 29.17% weight in the index. However, not all Tech stocks recovered evenly. One way to determine which to buy is with Technicals. Shortlisting top 10 and reviewing daily charts, top 6, Broadcom $Broadcom(AVGO)$ has more optimal setup; price is well above 200MA, has consolidated and just breaking clear of both 20 and 50 MA. If rise continue, there’s potential 10-11% upside in near term (see screenshot)
AVGO record earnings and solid forecast in most recent quarter report also gave another data point to buy larger position in this compared to other top Tech stocks currently.
Heat map of S&P Technology showed another ‘field of green’ on 17 Mar 22. However, sector is still down around -13% year to date, so there is definitely buying opportunity. I would start looking at three largest market cap stock in sector (see pic below, largest rectangles) as they are more stable and well financed, $Apple(AAPL)$ $Microsoft(MSFT)$ $NVIDIA Corp(NVDA)$
All three in most recent quarter reported earnings that handsomely beaten expectations and gave strong forward guidance. Some looking to invest in new growth areas e.g. MSFT by acquiring $Activision Blizzard(ATVI)$
So I would slowly accumulate larger positions of these 3 ticker at lower price now, and be better positioned to gain from rising prices when Markets turn bullish again.
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