Goldman Sachs: Don't let the Facebook blow-up scare you out of tech stocks

Goldman Sachs: Don't let the Facebook blow-up scare you out of tech stocks

6 years ago
Anonymous $oIHRkISgaL

https://www.cnbc.com/2018/07/30/goldman-sachs-dont-let-the-facebook-blow-up-scare-you-out-of-tech-st.html

Investors should not let Facebook's earnings disaster last week scare them out of the entire technology sector, Goldman Sachs' David Kostin says.

"While FB's decline [last] week highlights the risk inherent in a narrow-breadth market, market performance in its wake supports our strategic preference for Technology and growth stocks," Kostin, the bank's chief U.S. equity strategist, said in a note Friday. "Although Tech sector valuations stand near cycle highs, they remain low relative to long-term history."