Tech Stock Sell-Off: 1 ETF to Load Up On Right Now
The Invesco QQQ Trust is a top ETF to buy on the tech dip.
Overview
After a hot start to the year, tech stocks have been melting in the summer heat. The downturn has been led by top chip stocks, such as Nvidia, Micron Technology, and Advanced Micro Devices, while the stocks of other tech leaders, like Alphabet, Amazon, Microsoft, and Meta Platforms, are all trading well off their highs.
The biggest worry appears to be spending on AI infrastructure, although hyperscalers (owners of large data centers) continue to indicate they are getting strong returns on their investments and will continue to spend heavily on the opportunity. As such, this just looks normal pullback after a big run.
Details
For investors looking to play the dip in tech stocks without picking individual stocks, one of the best ways to do so is to invest in the Invesco QQQ Trust (NASDAQ: QQQ). The exchange-traded fund (ETF) tracks the Nasdaq-100 index, which is heavily weighted toward tech and growth stocks. Both the ETF and index are down about 5% from their highs.
Source
Originally published at www.fool.com.