Venture capitalist anticipates another 5% “stepdown” in Netflix, Amazon, Facebook and other large cap tech stocks with dangerously high multiples.
From an interview with Loup Ventures’ Gene Munster on CNBC’s Squawk Box Thursday morning:
“I’m still bullish on the sector more broadly for other reasons,” Munster said. “But the near term psychology has a way of playing itself out in historical patterns.” [protected-iframe id=”7d5677bdcfb95d52ed23e04f3af8d7b0-5450697-130806395″ info=”https://player.cnbc.com/p/gZWlPC/cnbc_global?playertype=synd&byGuid=7000045202&size=530_298″ width=”530″ height=”298″]
Brace yourself for another step down in large-cap tech, says Gene Munster from CNBC.
My take: Predictions are dangerous. As of 10 a.m. Thursday, Amazon was down and the rest were recovering from Wednesday’s rout.
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