Key insights
- The author views the current pullback in tech and AI stocks, triggered by hotter-than-expected CPI data, as a buying opportunity. They believe the underlying thesis for these companies remains strong and that the dip is temporary. Names mentioned include ASTS, QCOM, and MU. This suggests a short-term bullish outlook for these specific stocks and potentially the broader tech sector.
Tech and especially AI stocks have been on an incredible run recently.
Today, many of those popular names are having a pullback as much as 10% or greater (ASTS, QCOM, and MU just to name a few).
The thesis for these companies is unchanged and the dip in stock price today is entirely related to hotter than expected CPI inflation data that was released this morning.
History has shown us that these dips don’t tend to last very long and that shortly within the near future everything should recover nicely (fingers crossed)
Accordingly, which stocks are you looking to buy thanks to today’s dip?