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'Be wary' of your favorite tech stocks: Analyst

Yahoo Finance Video

Independent Solutions Wealth Management Portfolio Manager, Paul Meeks, discusses investing in consumer electronic stocks.

You can watch the entire interview here.

Key takeaways

00:07: On the global drop off in smartphone and PC units

00:18: Why investors should 'be wary' of favored tech stocks

00:29: On the enterprise side, of big names like Salesforce

Video transcript

PAUL MEEKS: Hey, you think about it. Consumer electronics has already really felt the pinch. We've seen a big drop-off globally in smartphone units, and we've seen a bigger crash in PC units, and I don't expect those markets necessarily to rebound so quickly. So be wary of your favorite tech stocks, particularly if they're still relatively and absolutely expensive, that are focused on consumer electronics because that's all about discretionary spending.

And then on the enterprise side of the house, we've seen it time and time again. Something like a Salesforce.com, they see their enterprise customers really pulling back as well. So I worry about those very pricey software companies, and I worry about, on the consumer side, those folks that are dedicated to consumer electronics.

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