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Tags: byron wien | tech | stocks | investors | shares | prices

Byron Wien Still Sees Value in 3 High-Flying Tech Giants


By    |   Tuesday, 26 September 2017 02:25 PM EDT

Investing guru Byron Wien tells savvy investors that he still sees value in three high-flying technology shares.

He doesn't find technology's bearish start to the week disturbing.

"I don't think it's ever over," Wien told CNBC in reference to the recent rally.

"There's always going to be technology companies that are going to surprise you with earnings on the upside," the Blackstone vice chairman said.

"I think maybe the existing technology leaders may rest for a while," he said. "A couple of them like Amazon have valuations that are excessive. Netflix also."

However, Wien said that America's most widely owned stock may see a different fate, CNBC.com explained.

"Apple does not [have excessive valuations]," Wien said. "I would say Google and Facebook are not aggressively priced."

To be sure, investors apparently still have a hearty appetite for all things tech.

Technology stocks attracted $1 billion in the week to Wednesday, their second largest inflow on record, recent Bank of America Merrill Lynch (BAML) data showed, after Apple launched a new iPhone and chipmakers rallied.

The technology sector has been the best performing on the S&P 500 this year, up more than 25 percent, far outpacing the broader index's 11.7 percent growth, Reuters explained.

BAML said the flows into the tech sector were second only to those in late January 2017. Overall, equities attracted $2.7 billion, their fifth straight week of inflows.

The bank’s analysts noted a rotation into more cyclical sectors, with financials attracting $1.1 billion, their largest inflows in seven weeks, and materials $300 million, a 26-week peak.

Emerging markets continued to attract the lion’s share of equity flows, pulling in $2 billion, compared with $1.8 billion for European stocks.

Emerging market stocks lead the bank’s league table of cross-asset winners, returning almost 32 percent year-to-date, while European equities are second with 23.2 percent.

Investors withdrew $300 million from U.S. stocks, and $1.4 billion from Japanese equities - their first outflows in 10 weeks.

Bonds attracted $5.6 billion in total, with investors putting $4.3 billion into investment grade bonds and $1.3 billion into emerging debt. Government bond and Treasury funds suffered their first outflows in six weeks, with redemptions of $500 million.

(Newsmax wires services contributed to this report).

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Investing guru Byron Wien tells savvy investors that he still sees value in three high-flying technology shares.
byron wien, tech, stocks, investors, shares, prices
Tuesday, 26 September 2017 02:25 PM
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