Where Next For Tech Stocks?
Join us LIVE at 5pm Eastern TODAY - or catch the recording later - as we contemplate Where Next For Tech Stocks?
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FOMC Looms
Today the Fed makes its latest rates decision, and at least as importantly will be on deck explaining where it thinks it is going next. With the Nasdaq up huge in 2023, many tech names may sell off if the Fed takes a stern line. Microsoft reported its Q2 yesterday after the close - see our writeup here - and whilst the numbers were solid, the story lacked sufficient power to get the market all excited - you can see the impact of that today with MSFT 0.00%↑ stock down around 4.5% (that’s a big one-day drop for Microsoft vs. its usual tight moves).
There is some evidence of rotation out of tech and into value names, or at least, a pause in the furious buying of tech in favor of some accumulation in value stocks. Our Inner Circle service is seeing early success with our stock ideas in the financial sector. Here’s our financials basket since its 23 June 2023 inception.
So, where next for tech?
On our live webinar today at 5pm Eastern, for our Pro-tier members only, we’ll take a look at the Nasdaq in the light of the FOMC decision that will have been made by then; and at how Microsoft has performed post earnings. We’ll also be looking at Nvidia and a handful of cybersecurity names, following a very strong earnings print by Tenable TENB 0.00%↑ yesterday.
Join us. If you’re a Pro-tier member of this Cestrian Tech Select service, just scroll down to register. If you’ve yet to step up to a Pro membership, you can do so right from the button below.
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Cestrian Capital Research, Inc - 26 July 2023.
DISCLOSURE - Cestrian Capital Research, Inc staff personal accounts hold long positions in, inter alia, MSFT 0.00%↑ TENB 0.00%↑ TQQQ 0.00%↑ SQQQ 0.00%↑ NVDA 0.00%↑ .