Tech stocks have been retreating as the Federal Reserve’s change in policy has set up expectations for a significant rise in interest rates. Here are Wedbush analyst Dan Ives’ favorite names for investors to buy now.
Technology stocks have been retreating as the Federal Reserve’s change in policy has set up expectations for a significant rise in interest rates.
Below is a list of large-cap tech stocks that have fallen at least 20% from their 52-week intraday highs. The minutes indicate some members of the committee want the Fed to go further than ending the net bond purchases. Some argued the Fed should also stop replacing bonds in its portfolio as they mature, to shrink the central bank’s balance sheet. This would put further upward pressure on interest rates.
Time for tech investors to go shopping? On Jan. 6, Wedbush analyst Dan Ives wrote in a note to clients that in light of the Fed-driven tech sell-off, “many of the secular tech winners we believe will drive the 4th Industrial Revolution are now in oversold territory with valuations we find veryIves listed his favorite names for investors to buy now in several categories. Among large-cap tech stocks, his favorites are Apple Inc. AAPL, -1.