Stock Groups

Tech weakness is a major buying opportunity for investors: Invesco

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If technology stocks go under, it is worth investing in them.

Kristina Hopper from Invesco believes that the group plays an important role in corporate America’s drive to improve productivity.

CNBC’s Chief Global Market Strategist for the Firm stated that “technology will be better off over the longer-term” and spoke out to CNBC.Trading Nation” Friday. There’s lots of excitement.

However, she advises investors to be patient.

Hooper added that “we may not see this in the near term just because yields have gone up”

Wall Street is losing interest in tech primarily because of the 10-year Treasury Note yieldIt is moving higher. The yield hit a high of 1.617% during Friday’s trading — its highest level since June 4. Growth stocksTech, including tech, often underperforms in rising rates environments because it places pressure on profits.

In the last four weeks, tech has been heavy NasdaqIt is down more than 5% from Sept. 7’s all-time high. To close at 14,579.54, it fell by 74.48 points Friday. The index still managed to post a positive performance of 0.9% for the week.

Hooper recognizes that the short-term environment favors tech over cyclicals. Hooper believes this is temporary. She expects that areas such as software and cybersecurity will see substantial benefits.

Individuals will also spend more. She noted that there is an increase in household net worth.

Hooper suggests a 3- to 5-year time frame in order to take advantage of bullish trends and secure solid profits.

Hooper stated, “This is an excellent medium-term and long-term investment.”

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