Big tech stocks got clobbered Monday. What to know before buying them

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Big tech stocks got clobbered Monday. What to know before buying them

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and Tesla . Many investors viewed the sell-off as a necessary pullback in what’s been a seemingly endless uptrend in the market. “When it feels completely inevitable, that’s when you need to start asking questions. That’s inherently when there are going to be cracks in the system,” Kayne Anderson Rudnick’s chief market strategist Julie Biel said Monday night during a CNBC special report. “When the consensus is totally *******, that’s when you need to be really worried.” Seeking a discounted opportunity Adam Sarhan, CEO of 50 Park Investments, views the sell-off as an opportunity for investors to get in on AI stocks, noting that this is the third time since October 2022 that the Nasdaq 100 came near its 200-day moving average — a key momentum indicator watched by Wall Street. “The Nasdaq 100 is extremely oversold,” he said. “It’s down five weeks in a row, so from a probability standpoint, this offers long term investors a good risk to reward entry point.” NVDA 1M mountain Nvidia shares over the last month The index has fallen more than 10% over the last month, and it ended Monday more than 13% off its record high. AI darling Nvidia settled about 26% below its closing high from June on that day, while the S & P 500 ended the session roughly 8% off its record close from last month. Jay Woods, chief global strategist at Freedom Capital Markets added that market days like Monday offer an opening for investors that have complained about missing the AI trade. Like many investors, he also views Monday’s pullback as a small blip in the AI trade’s record run. “Investors who have been waiting for a dip and believe the AI story is in the early innings — this is an opportunity that in a few weeks they may look back and regret,” he said.

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