Jeffrey Buchbinder Believes Tech Stocks Have Room for More Growth
Jeffrey Buchbinder, the equity strategist at LPL Financial, believes that the technology sector still has room for more growth. Despite the recent volatility in the market, Buchbinder is optimistic about the future of tech stocks.
According to Buchbinder, the technology sector has been one of the strongest performers in the market over the past decade. The sector has been driven by innovation and disruption, which has led to significant growth in revenue and earnings. This growth has been fueled by the increasing adoption of technology in various industries, such as healthcare, finance, and retail.
Buchbinder also believes that the COVID-19 pandemic has accelerated the adoption of technology, as more people are working remotely and relying on digital services. This trend is likely to continue even after the pandemic is over, as companies have realized the benefits of remote work and digital transformation.
In addition, Buchbinder notes that the valuations of tech stocks are not as high as they were during the dot-com bubble in the late 1990s. The current valuations are supported by strong fundamentals, such as revenue growth and earnings growth. This suggests that there is still room for more upside in the tech sector.
However, Buchbinder cautions that investors should be selective when investing in tech stocks. Not all companies in the sector will be winners, and there will be winners and losers in the coming years. Investors should focus on companies with strong fundamentals, such as revenue growth, earnings growth, and a competitive advantage in their respective markets.
Overall, Jeffrey Buchbinder believes that the technology sector still has room for more growth. The sector has been driven by innovation and disruption, and the COVID-19 pandemic has accelerated the adoption of technology. While investors should be selective when investing in tech stocks, there are still opportunities for growth in the sector.
