Fundstrat’s Tom Lee sees a buying opportunity in tech stocks as the Nasdaq faces a losing week

The selloff this week in the Nasdaq Composite is a buying opportunity, according to Tom Lee, head of research at Fundstrat Global Advisors. The tech-heavy index has lost about 1.5% week to date after recent economic data sparked concerns among investors about the path of the Federal Reserve's interest rates. On Friday, the Nasdaq was looking to snap its four-day losing streak. .

"If inflation is falling and companies are becoming more confident — and we already know corporate profit revisions have been positive. That is going to get investors more confident adding equity exposure, but they are going to want exposure to companies like mega-cap tech," he said on CNBC's " Squawk on the Street " Friday. "This is going to be a buying opportunity." Apple' s decline also weighed on the index.

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Stock Market Today: Dow Edges Up, Nasdaq Slips 100 Points; Apple Stock Price RetreatsLive coverage of stocks and financial news, including the S&P 500, Dow and Nasdaq Composite.
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Nasdaq leads stock market lower as Apple extends slumpU.S. stocks trade lower Thursday, continuing to struggle on expectations rates will remain elevated for some time. Apple shares extend their slump.
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