This segment originally aired on July 23, 2024.
With major tech earnings on the horizon, Matt Stucky, Chief Portfolio Manager at Northwestern Mutual Wealth Management, advises keeping track of trends with positive outlooks for large-cap tech. Stucky mentions the ongoing health of advertising, noting that Alphabet (GOOGL) and Meta (META) have the opportunity to take advantage of the improving ad environment.
Stucky continues by discussing how strong fundamentals are more relevant in the short run, considering the upcoming earnings and their influence over the market. He concedes, "It’s not until you start to see revision trends rollover, that’s where the valuation concerns really come into the investor mindset."
When asked about where investors should look to invest their money within tech, Stucky notes that he is not advising clients to blindly dump money into large-cap tech. Instead, he suggests keeping a long-term investment horizon while continuing to diversify their portfolio, using small-cap stocks as an example.
Switching gears to CrowdStrike (CRWD) and cybersecurity as a whole, Stucky explains the prominence of security as a cemented trend year after year. He uses the recent crash as an example of the necessity of IT resilience and the potential for further spending in the IT sector.
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