RE: Tech stocks being hammered - U.S20 Nov 2018 15:18
Amran, if I were you, I'd get out when the next mini bounce comes. I think the U.S tech stocks will continue to get hammered for a while yet. The bell weather was Apple and now it's on a downward trend. The negative sentiment amongst the large U.S tech stocks appears to be gaining momentum.
I personally wouldn't get back into Sophos if it falls ( could be a falling knife.....the P/E is way to high - was ok when the U.S tech stocks were doing ok, but now the tide has turned on the tech stocks.....all this impacts any UK tech stocks. The market volatility will continue until Trump comes to his senses on the China trade war.
Recent guidance from the large U.S techs is not great and to some extent this is dragging the whole market down (not just tech stocks). Yes, my view has changed over the past week - due to too much negative news coming from the U.S tech sector. Sometimes you just have to make a judgement call.
I got out yesterday - market signs were not good.
Sophos have a good product - but the market will determine what is and what is not a reasonable SP.