Investor warns it's 'looking a lot like the tech bubble' and names 3 cheap stocks to buy outside it

📆 4/27/2023 4:30 AM
📰 CNBC

⏱ Reading Time:
12 sec. here
2 min. at publisher
📊 Quality Score:
News: 8%
Publisher: 72%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

The S&P 500 is 'supported' by just seven mega-cap tech stocks right now, Eric Lynch tells CNBC. He shares stock picks, including one he calls 'so darn cheap.'

The S & P 500 is "supported" by just seven mega-cap tech stocks right now — and it's starting to look a lot like the 1990s tech bubble, one analyst told CNBC on Wednesday. "The S & P 500 [is being] supported by a few expensive mega cap techs," said Eric Lynch, managing director of Scharf Investments.

Two of them are Asian stocks: Chinese search engine giant Baidu and Japanese conglomerate Sony . He said Baidu is "so darn cheap" and will benefit from China's reopening and the artificial intelligence trend.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P 500 Futures snap two-day winning streak as US Treasury bond yields portray market fearsS&P 500 Futures snap two-day winning streak as US Treasury bond yields portray market fears – by anilpanchal7 SP500 Futures YieldCurve Fed Recession
Source: FXStreetNews - 🏆 14. / 72 Read more »

Argentina vows to battle black market peso slide towards 500 per dollarArgentina's Economy Minister Sergio Massa pledged on Tuesday to unleash 'all tools' to counter a dangerous slide in the peso currency, which has plumbed near 500 pesos per dollar in popular black markets amid wider economic fears.
Source: Reuters - 🏆 2. / 97 Read more »