HP missed estimates on its first quarter revenue as the PC market continues to struggle.
Tech ETFs saw massive inflows of over $17 billion last year, according to VettaFi. However, Financial Futurist Dave Nadig, says many are "overdone" in mega-caps like Nvidia (NVDA) and Meta (META) which drive gains. He warns of "concentration risks," noting that in the Technology Select Spdr Fund (XLK) just 5 names account for more than 50% of the fund. Nadig advises those investing in tech to "look for strategies that are a little bit more equal-weighted." He suggests something like the Robo Global Robotics and Automation Index ETF (ROBO) which is "much more balanced" with global diversification across use cases. Many tech ETFs have "hyper-concentrated" portfolios, with stocks like Microsoft (MSFT), for example, dominating the top holdings. On the days that dominate stock does well, "performance will beat everybody else," while down days see similar exaggerated moves. Nadig recommends focusing on long-term plays that "benefit over the cycle, not just over the headline." Beyond tech, Nadig highlights healthcare as an attractive sector, suggesting the Simplify Healthcare ETF (PINK) for exposure without "veering entirely" into biotech/pharma - providing "nice balance." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
(Bloomberg) -- The Securities and Exchange Commission is investigating whether OpenAI investors were misled as the startup went through a ferocious debate over leadership last year, the Wall Street Journal reported, citing people familiar with the probe.Most Read from BloombergHow Much Wealth You Need to Join the Richest 1% Around the WorldApple to Wind Down Electric Car Effort After Decadelong OdysseyThis Is Where New Migrants Are Going When They Reach the USSupreme Court Immunity Case Jeopardi