Jeff Kilburg makes a case for owning tech stocks
Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >
Wajeeh Khan
on
Jun 22, 2022
He explained why this morning on CNBC’s “Worldwide Exchange”.
Kilburg’s favourite in the tech space is Palo Alto Networks Inc.
Now is the time to selectively add high-quality, beaten down tech stocks to your investment portfolio, says Jeff Kilburg. He’s the Chief Investment Officer at Sanctuary Wealth.
Why does Kilburg remains constructive on tech?
His confidence in the tech space amidst fears of an aggressive Fed is attributed to the 10-year Treasury note. Speaking with CNBC’s Dominic Chu this morning on “Worldwide Exchange”, Kilburg said:
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
The 10-year note is the beacon, the guiding light. It went from 1.53% at the start of the year all the way up to 3.49%. As we see it come back down, currently at 3.21%, it’ll allow investors to come back into this massive repricing.
He expects the 10-year to sit at 3.0% or below in the fall of 2022. The tech-heavy Nasdaq Composite is down nearly 30% for the year.
Kilburg reveals his favourite tech stock
A name that particularly pops out to him within technology is Palo Alto Networks Inc (NYSE: PANW) that reported strong results for its fiscal Q3 last month and offered upbeat guidance for the full year. Kilburg noted:
The darling we own in our essential 40 portfolio is PANW. I think you have to be very specific and own sub-sectors of technology. Own it in a prudent, equal-weighted manner. This is a bottoming process. You have to allocate here.
The stock is down more than 20% versus the start of the year. Other beaten down tech names he likes here include Intel and Oracle. Kilburg disagrees that the U.S. economy is headed into a recession.
Capital.com
9.3/10
75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Visit site
Industries
North America
Stocks & Shares
Technology
USA
World
