SpaceX, Tesla, and Alphabet All Fall in a Broad Tech Rout. Should You Rebalance Your Portfolio?
Recent weakness in the market's hottest tickers has many investors suddenly rethinking everything.
Overview
It's been a rough past few days for many of the market's most popular tech stocks.
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) shares are down more than 10% from their mid-May peak. Amazon (NASDAQ: AMZN) and Tesla (NASDAQ: TSLA), too. While Micron Technology (NASDAQ: MU) shot higher in response to its blowout third-quarter earnings, that red-hot move may or may not last. Even the bullishness surrounding Space Exploration Technologies' (NASDAQ: SPCX) initial public offering appears to be fading, weighing on the broad market as well. There may be more marketwide downside in store, too, now that so many artificial intelligence (AI) stocks have revealed their vulnerability.
Details
Is it time to reallocate your portfolio into something less aggressive and more defensive? The answer to the question, unfortunately, is two-parted: (1) Possibly, but (2) not necessarily.
Source
Originally published at www.fool.com.