Yesterday, tech was rocked by Newsom’s re-closing of California’s… bars and restaurants??? Let me make something clear: I am all for closing this economy down to kill this virus. This is the worst tragedy to hit the United States since 9/11, and America’s response will be judged for a century to come… but you’ve been gifted a perfect opportunity to pick yourself up some ripe tech stocks.
Another follow through today will get you an even steeper discount. This is nothing but a tight correction that is going to get snapped up quickly. Choose your FAANGs carefully, and buy them all, or just stick with the overall index QQQ.
It’s Tuesday and we are running hot into earnings season for the biggest tech companies. I am expecting a blowout, even in the face of CoVID.
Let’s not forget these enormous companies have 99% of their value chain located in cyberspace. A physical location is hardly a blip on the radar, couple that with an increase in advertising spending for their customers, and speed bumps will be hardly noticeable.