Tech stocks have been hit in the last few weeks. After reaching all-time highs in May and June, all of the "Fab Five" tech stocks are down significantly over the past month. Alphabet Inc. (Nasdaq: GOOGL) in particular has dropped 7.3% in that time.
All those stocks, however, were up early on Wednesday, which raises the question: Was it just a temporary dip for tech stocks? And is it time to buy these stocks at discount prices?
Money Morning Capital Wave Strategist Shah Gilani and Technical Trading Specialist D.R. Barton join Charles Payne on "Varney & Co." to tell us where tech stocks are going.
Shah also discusses Microsoft Corp.'s (Nasdaq: MSFT) announcement that it could lay off thousands of employees as it focuses on cloud computing.
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