Millennial investors, listen up.
“Tech isn’t the only game in town. We don’t always just have to play in tech,” says Michael Antonelli, market strategist at Baird PWM.
AAPL), Microsoft (MSFT), Facebook (FB) and Alphabet (GOOGL) declined as investors sold out of the overbought names. On Friday, chipmaker Intel (INTC) had its worst day in four months after warning of a 6 month delay for its new 7-nanometer chips.
Antonelli highlights the area in which the entire millennial generation has a tailwind— housing.
“Sixty million millennials all coming into their prime home buying and working years. They’re going to probably want a home some day,” said Antonelli.
^GSPC), if you were to look at it on a relative basis.”
Don’t forget millennials have the advantage of time on their side, says the strategist.
“In the S&P 500, if you took a 20-year rolling time frame, the odds of a gain over that 20 year period is 99% according to the data from the past.”
Just don’t be surprised if the world goes sideways every 10 years or so.
“The world is going to break almost every decade, the market’s going to crash often, but that doesn’t preclude long-term growth,” he added.
@ines_ferre” data-reactid=”28″>Ines covers the U.S. stock market. Follow her on Twitter at @ines_ferre
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