Name: Wells Fargo equity chief: Tech stocks are ‘overvalued,’ but you should still buy them
Uploaded: 2017-07-18T07:34:51.000Z
Duration: 1 min 9 s
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So we've covered really, one of the biggest stories in the market,

but we can't really have a discussion about stocks without talking about tech.

Adverbs of degree

It's really been sort of, the lightning rod sector of the last several months, if not since the election.

I wanted to see what your thoughts were on that.

The NASDAQ moving 1 or 2 percent on a day, when the S&P has barely changed.

It seems like it's sort of a flashpoint for sentiment right now.

Do you believe in, maybe some of the skepticism we're seeing?

Yes. Yes. Yes. In other words, I think it's overvalued.

But real growth stocks are almost always overvalued.

The trick is, when a growth stock that's truly a growth stock goes down solely because evaluation.

When the fundamentals don't get tripped up, that's almost always a buying opportunity.

No one else is really going to call those things exactly.

But when they happen as they have, usually it's like falling down an up escalator.

You may be tumbling down, but the escalator is pulling you higher,

the earnings are pulling you higher as the price gets lower.

Well, take 10 or 15 percent off the stock price, raise earnings 10 or 15 percent.

Suddenly, you corrected a lot of the excesses we were worried about.