“Look at the FAANG plus Microsoft and Nvidia, they’ve added about $1.7 trillion in market cap over this quarter alone. Collectively up about 36%, so clearly it’s a rising tide, any one of those companies are benefitting from aggressive, borderline blind rotation into tech. And there’s reason behind that, whether its pear-shaped growth, the green light from Powell and company, and in general a retail frenzy as well…,” on CNBC’s Worldwide Exchange.
Some of our biggest companies are suffering, Cisco had a really bad quarter and blame China a lot, even though that's a relatively small portion of the pie for them.
August was an exhausting month. I think we had 60% of the days in the month had 1% moves , ... the main strategy amongst the tech dedicated investors that I speak to is to avoid the blow ups. We see a big unwind of the cloud SaaS complex, valuations go extremely stretched to the upside and I think the pain that was witnessed last year and Q4 of 2018, that's fresh on a lot of guys' minds.
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Joel Kulina, Wedbush's head of TMT, and Larry Haverty of KJH Investments, join CNBC's "Squawk Alley" team to break down how technology stocks are moving amid escalating trade tensions between the U.S. and China.