Why Now May Be the Time to Buy Tech Stocks
Full Transcript Below:
ROSS MAC: Imagine joining a new company last year and taking the majority of your compensation in the form of stock options, only to see the company’s stock being down over 70%...yeah, things have gotten ugly in the tech industry as investors have lost $7.4 Trillion dollars of value in 12 months. We’ve seen Microsoft lose $700 billion in market cap and Meta is down $600 billion this year. With interest rates and inflation rising, growth companies have seen the cost of capital drastically increase. As a result, the industry is cutting costs and laying off staff as future profits look bleak. Many tech CEOs have come forward and admitted they were wrong to expect the Covid-19 Tech boom to persist and instead are cutting back. For the first time in nearly 20 years, the Nasdaq is set to underperform the S&P 500 for two consecutive years. You know what Warren Buffett would say, be greedy when others are fearful and be fearful when others are greedy. So is now the time to buy these discounted stocks or do you think they can go down further?
