Gene Munster: Now is the moment to but tech stocks

21.06.2017 / 01:09

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The tech sector has had a bumpy ride since June 9.

According to the Loup Ventures founder, this selloff was just a natural profit-taking.

Some investors are jumping on the tech train on this unexpected dip and Munster said that's a good strategy if you're thinking long term. "Tech stocks could be bumpy in the next month or two," he warned. "But longer term, yes, this is a good chance to buy."

Munster said that Tesla (TSLA) is his favorite pick for tech stocks that have the best long term potential.

People see it as just an electric car company, just like Amazon was once seen as a company that just sold books, Munster said.

Tesla was trading up 1.22% to $374.20 in late morning trading on Tuesday after Bloomberg reported late Monday that Tesla may open a new production facility in China.

Source: Bloomberg

Junior Trader Stefan Panteleev

Varchev Traders

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Gene Munster: Now is the moment to but tech stocks

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