Bobby Edgerton, Money Manager at Capital Investment Companies, says he looks at macro events when evaluating stocks, but he is more concerned with what big tech companies are doing, such as Facebook Inc (FB).
“One phenomenon that has happened in the market is the emergence of the five tech companies to get even more and more powerful, and those are Amazon (AMZN), Apple (AAPL), Facebook, Microsoft (MSFT) and Alphabet (GOOGL),” he says.
Bobby Edgerton
“I like tech stocks the best because they’ve changed the world. They have more money than anybody else. They make more money than anybody else. If you looked at Microsoft’s and Apple’s balance sheet as well as Alphabet and Facebook, then that’s my favorite sector,” Edgerton adds.
Edgerton says Facebook is a $100 stock with 3 billion shares outstanding and a market value of $300 billion. Despite the competition, he believes FB will continue to succeed.
“The competition is just absolutely ferocious, especially between the big tech companies. Google wants what Facebook has got. Facebook wants what Google has got, and they go at each other. But probably both are going to do well,” Edgerton says.
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