Will the Big Tech sell-off continue? This strategist says yes.
US stocks (^DJI,^GSPC, ^IXIC) are trading lower, with Big Tech leading the pullback after Meta (META) and Microsoft (MSFT) earnings fed into concerns about artificial intelligence (AI) spending. US SPDR Business at State Street Global Advisors chief investment strategist Michael Arone joins Market Domination Hosts Alexandra Canal and Josh Lipton to discuss his outlook for the Big Tech sector. “What's been happening is that these companies continue to beat on top and bottom line, yet their forecasts just aren't good enough given how far they've come from a price-performance perspective and where their valuations are,” Arone tells Yahoo Finance. The strategist adds, “I do expect this [Big Tech pullback] to continue to unfold, given some of the risks." For more on Arone’s expectations for Big Tech stocks and how to navigate the pullback, watch the video above. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Naomi Buchanan.
