Before Apple’s record run to $1 trillion on Thursday, the tech sector was almost in trouble. The so-called FANG group—made up of Facebook, Amazon, Apple, Netflix and Google’s parent Alphabet — was in correction mode by Monday, and market watchers were talking about a move out of the high-growth companies.
“We see kind of a rotation away from those leadership areas in tech — in particular FAANG and similar names — moving toward financials, moving toward energy,” Tobias Levkovich, chief U.S. equity strategist at Citi, said Monday on “Squawk on the Street.” “Kind of a growth-to-value rotation.”
But Apple is back to being the tech sector’s standard bearer after posting strong fiscal third-quarter earnings, which sent the stock surging past the $1 trillion milestone. Here’s what 11 experts had to say about the tech sector’s wild past two weeks.
