I started buying some beaten-down tech stocks today. While the S&P 500 could fall further to about 4,800, 10% below its all-time high of 5,264, (It’s about 5,025 now); I believe some of these semiconductors and other companies are looking very attractive.
To be sure if the PCE (Personal Consumption Expenditure) index due on Friday 26th is high, we could see another drop, but these prices looked good enough to start accumulating, with the possibility of adding more on further declines.
04/22/2024 Trade Alert: Bought Nvidia (NVDA) at $775 and $785
The sell-off is about 20% from its intra-day high of $970 and the long-term story is still great and intact, Apple is also going to collaborate with them for their mixed reality headset, which though is still in the beta stage could be an interesting growth segment in the next two-three years.