The collapse of Silicon Valley Bank has added to volatility in the tech sector, coming hot on the heels of expectations that interest rates are likely to remain high for some time. The tech-heavy Nasdaq Composite closed 0.45% higher on Monday. That's after sliding 1.76% on Friday following the closure of Silicon Valley Bank . Crypto-focused Signature Bank was also shut down.
Meanwhile, Barbara Doran, CIO at BD8 Capital Partners, believes tech has "really been on a roll" and is "holding up," despite concerns around higher interest rates. She said she's refocusing on big-cap tech names given the promise of artificial intelligence — the hottest tech theme this year — and "historically attractive" valuations. She is bullish on Meta , giving the stock upside of between 15% to 35%.
this ain’t the bottom ! and i suck at stocks.
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