Meeks: Tech Sentiment 'Nasty,' But There Are Buying Opportunities

Paul Meeks, a veteran investor that has covered the technology industry as an analyst or manager on Wall Street for more than 20 years was a recent guest on CNBC's Halftime Report on Tuesday.Meeks acknowledged that the overall sentiment for technology stocks is indeed "nasty." However, the current plunge in many technology stocks has created several "great buying opportunities.""The problem is, we don't necessary have fundamental deterioration, we have a contraction of the valuation multiple," Meeks said.Meeks continued that it is not apparent how low technology stocks can dip before recovering. He singled out Tableau Software Inc (NYSE: DATA), Microsoft Corporation (NASDAQ: MSFT) and salesforce.com, inc. (NYSE: CRM) as 3 companies that investors can buy today and "be happy" with their investment decision in a year for mow.

This Isn't The Dotcom Bubble All Over Again

When asked if the current environment for technology stocks is similar to the dotcom bubble nearly 16 years ago, Meeks pointed out that the bubble mostly affected emerging technology companies that "didn't have worthy business models."On the other hand, names like Tableau, Microsoft, Amazon.com, Inc. (NASDAQ: AMZN) and others are all companies that "I know for sure will be long standing and do quiet well."