Technology sector investors may be wondering what to think of the recent drops in the S&P 500 and the Dow. The S&P has been down for two weeks in a row, and the Dow had two big down days in July.
Paul Meeks, our firm’s chief investment officer and portfolio manager, recently joined Brian Sullivan on CNBC to discuss this subject. Brian posed the question to Paul about these drops:
“With so little volatility, what does this mean for technology stock?” To answer, Paul said the key is to avoid any aggressive moves.
According to Paul, tech sector investors should look to leadership companies we are all familiar with:
These cloud-oriented stocks have dropped a bit since last quarter, however this shouldn’t be cause for panic. Don’t sell these tech stock. Rather, perhaps the best course of action is to initiate the positions of these stocks or even add to them a bit.