While markets could still wilt in the face of a weakening economy, Matt Maley, chief market strategist for Miller Tabak + Co, said that investors should be grabbing defensive opportunities now. At the top of his list are three tech giants: Amazon.com Inc., Alphabet Inc. and Meta Platforms Inc.
“Those stocks have already gotten knocked down, they’ve gotten much cheaper than a lot of other tech names,” Maley said on Bloomberg Radio Wednesday morning. “If the broad market falls further, like I think it will, these stocks will also fall a little bit, too, but if you buy them every single month for really, the rest of the year, you’ll be able to get a nice little base of shares by the end of the year. You’ll be sitting nicely for the next year and beyond.”