“Brace yourself” for some-more offered in record stocks, warns Gene Munster, tip tech researcher incited try capitalist.
In Wednesday’s marketplace rout, tech bonds led a approach lower. The Nasdaq mislaid 4 percent, while a Dow Jones Industrial Average and SP 500 tight some-more than 3 percent.
Tech giants, including Netflix, Amazon and Facebook, could see another large “step down” of 5 percent,” Munster told CNBC’s “Squawk Box,” before a marketplace non-stop Thursday, a day after a marketplace plunge. Munster didn’t elaborate on a timeline.
Munster, a owner of Loup Ventures, likely a important difference will be Apple, with Wall Street analysts awaiting to see a normal offered cost of iPhones stability to rise.
“I’m still bullish on a zone some-more broadly for other reasons,” Munster said. “But a nearby tenure psychology has a approach of personification itself out in chronological patterns.”
Munster argued in Jul that large-cap tech bonds as a whole are not a protected gamble for investors anymore, observant during a time he approaching a “divergence” in a subsequent 6 to 12 months.
“Apple and Google are substantially in a best camp,” Munster told CNBC Thursday, with underpeformance from Netflix and Facebook.
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