Technology stocks continue to see some selling pressure, but there isn't any reason for investors to be overly concerned, according to MKM Financial's Jeff Kilburg.
The Analyst
Kilburg discussed tech and FANG stocks during CNBC's "Worldwide Exchange" segment Monday.
The Thesis
Technology stocks, particularly the "FANG" stocks, are all off their highs, but the major indices remain near their all-time highs, Kilburg told CNBC. The S&P 500 index is just 2 percent off its all-time highs and global assets continue to shift toward American stocks at a time of surging yields in the 10-year note, he said.
Maley: Facebook No Longer A Crowded Trade
Facebook, Inc. FB is down the most in 2018, having lost nearly 15 percent of its value. The stock is less vulnerable moving forward if the tech sector continues to sell off, since Facebook is no longer a "crowded trade," Matt Maley, an equity strategist at Miller Tabak, told CNBC.
"If the market begins to roll over, you're actually going to see Alphabet Inc GOOGL GOOG and Netflix Inc NFLX, some of that fast money, the momentum money, start to sell in a little bit of a panic move," he said. "But that money has already disappeared from Facebook."
Price Action
Facebook shares were down 1.15 percent at $155.52 at the time of publication Monday.
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