Good Afternoon, The earnings reports from Alphabet Inc. NASDAQ: GOOGL and Tesla Inc. NASDAQ: TSLA led technology stocks lower for the week. Some analysts are warning that the price action is due to an artificial intelligence (AI) bubble, but there could be other factors at play. First, the second half of July tends to be seasonally weak for stocks. That means the current price action is being driven by relatively lower volume. Second, technology stocks have been on a magnificent run (no pun intended) in the last two years. It's natural that some investors may decide it’s a good time to take some profits. But there’s also evidence that instead of pulling money out of the market, investors are rotating into other sectors, particularly small-cap stocks. But if you’re a long-term investor, sell-offs create opportunities. Many quality tech names are trading at attractive prices, and now may be an attractive time to buy. Both the S&P 500 Index ETF NYSEARCA: SPY and the Invesco QQQ ETF NASDAQ: QQQ displayed a “hammer candle” formation as the market closed on July 25. This happens when a stock finishes lower for the day but significantly higher than a low they set earlier in the day. Click here to learn more about the top stocks as you're sifting through the tech wreck for some attractive deals.
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William Bushee
MarketBeat | 
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