According to Meeks, investors should once again see technology outperform the S&P 500. Meeks says this is because, when you see names like Facebook that have repetitive quarters of earnings beats, and a PE ratio that is not at all egregious, this is a great sign.
One area Meeks says to be wary of is blockchain technology. Though he does believe in the future of e-currency, he feels that in the short-term, it does look–particularly in bitcoin– like a bubble is about to burst. Although this “burst” may be good for the long-term health of blockchain technology, it’s too unstable right now, so investors should stay clear.
As for a stock that Meeks likes? He says Altaba looks technically great, and may even be better than Alibaba.