After a rough 2022, some investors are flocking back to tech. The Nasdaq Composite has been the best-performing Wall Street index thus far, having gained nearly 7% since the start of the year. But investment veteran Michael Landsberg is staying on the sidelines for now.
Staples will get hurt too obviously if the consumer pulls back to the extent that we think, but it's going to be hurt much less," he said. Landsberg pointed to discount stores such as Costco and Dollar General , which he said have been "pretty solid throughout." "I think people will trade down. They are still going to have to buy some of these things, and that's going to be a spot that's going to hold up better.
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Going full bully on tech