Michael Binger of Gradient Investments spoke on CNBC's "Trading Nation" about the tech sector. He believes the FANG stocks are relatively immune from the tariffs announcement. He added that these stocks have been strong performers, but they're not immune to pullbacks.
Binger sees these pullbacks as a buying opportunity. Besides Facebook, Inc. FB, Amazon.com, Inc. AMZN, Netflix, Inc. NFLX and Alphabet Inc GOOGL GOOG, he would also own Apple Inc. AAPL. He particularly likes Alphabet and Apple because they posted good earnings results. He would buy them on any pullback.
Mark Newton of Newton Advisors thinks the technology sector is not that attractive at its current price. It was been the worst performing sector last week. He added that FANG stocks lagged particularly.
Newton would avoid buying dips in the near term and would wait for a couple of months. Between now and the end of September, he expects to see a pullback between 5% and 8%.
Related Links:
10% Tariffs Could Be Delayed, Halted If China Talks Action Before Sept. 1
Big Tech Faces Big Scrutiny: FTC Looking Into Facebook, Federal Reserve Pays Amazon A Visit
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