Paul Meeks, CIO of Sloy, Dahl & Holst, recently appeared on CNBC to talk with Brian Sullivan about the tech sector.
During their conversation, Sullivan noted that with the recent drops in the Dow and S&P 500, some tech investors are worried. Under normal circumstances these dips wouldn’t draw much concern. However, investors aren’t seeing a lot of volatility.
With that in mind, Sullivan posed a question to Meeks: “Are you a buyer or a seller of technology right now?”
According to Meeks, investors should turn their attention to leadership names. For instance, Amazon, Google, and Microsoft. Cloud-oriented companies are the ones to focus on.
Even so, none of these stocks are urgent buys. Instead, Meeks recommends moving your positions of these stocks a bit, or even adding to them--if only slightly.