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Earlier this week tech stocks sold off as money was rotated into other sectors. Pfizer released news that they had positive trial results for a Covid vaccine, so many investors sold their stay at home stocks. It makes sense for names like Zoom (ZM), and Peloton (PTON) to sell off, but what about the FAANG names? Why would people stop using Amazon (AMZN) and Apple (AAPL) just because there are no lockdowns? Maybe now is the time to buy on the dip!
By Financial MoversEarlier this week tech stocks sold off as money was rotated into other sectors. Pfizer released news that they had positive trial results for a Covid vaccine, so many investors sold their stay at home stocks. It makes sense for names like Zoom (ZM), and Peloton (PTON) to sell off, but what about the FAANG names? Why would people stop using Amazon (AMZN) and Apple (AAPL) just because there are no lockdowns? Maybe now is the time to buy on the dip!