Early Facebook Investor Says These 3 FAANG Names Will Outperform Because Of Next-Gen Tech
Jim Breyer, founder and CEO of Breyer Capital, would be a buyer of mega cap tech on pullbacks because he expects most of the FAANG stocks to lead the way in terms of next generation technology, he said Tuesday on CNBC’s “TechCheck.”
Breyer told CNBC he has been buying Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), Microsoft Corp (NASDAQ: MSFT) and Apple Inc (NASDAQ: AAPL) over the last two years during pullbacks.
“For the last two years, when the mega-cap tech stocks sold off significantly, I’m a buyer. And the reason is they are also the leaders in the next generation technologies.”
Next generation technologies include artificial intelligence, augmented and virtual reality and quantum communications and computing, he said.
“Alphabet, Microsoft, Apple: These are the best companies in the world and so I continue to believe that over the next three to five years they will continue to outperform.”
These companies are recruiting the best talent in the world in order to continue to drive innovation in next generation technologies, Breyer said.
See Also: Microsoft CEO Says Working On Acquiring This Company Was The ‘Strangest Thing’ Ever
GOOG, MSFT, AAPL Price Action: Class C Google shares were down 3.85% at $2,721 midday Tuesday, while Microsoft shares were down 3.14% at $284.93 and Apple shares were down 2.14% at $142.26.
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