Nvidia is still 'amazingly dominant' amid tech pullback: Strategist
Nvidia's (NVDA) stock slump — down by 9% over the last five trading days — dragging down tech-heavy indexes (^DJI, ^IXIC, ^GSPC) along with it.
Yahoo Finance's The Morning Brief welcomes Commonwealth Financial Network CIO Brad McMillan to talk about recent trends in the tech sector and major chip players.
"When you look at the underlying trends, there are some companies coming up underneath Nvidia in the in the artificial intelligence [AI] market. But at the same time Nvidia is still amazingly dominant," McMillan explains. "So, you know a little bit of a pullback, that doesn't worry me necessarily in the short term as long as the trends remain positive and they are. And those other companies give you other opportunities going forward."
McMillan also weighs in on opportunities in small-cap stocks (^RUT) and the Federal Reserve's interest rate approach to inflation.
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