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Tech stocks on sale

Yuch. Awful day for tech stocks and getting worse.

Big downgrade on AYX because its guidance was weak. And Guggenheim downgraded them. Not a pretty sight. The stock lost 29% today. Which I think could make it an interesting buy. You can read their latest earnings call here.

Don’t look at today as the beginning of an overdue slide in over-priced tech stocks.

Think of it as “Tech Stocks on Sale.” Some of them are down eight per cent. Pick your favorites and buy some more. If in doubt, buy AAPL. AMZN, NFLX and SHOP. Check our list on the right hand column of the web site. Click here.

I don’t like gambling with vaccine stocks. But I bought some NVAX based on really bullish news. From the NYTimes:

Novavax, the little-known Maryland company that received $1.6 billion from the federal government to produce an experimental coronavirus vaccine, announced encouraging results in two preliminary studies on Tuesday.

In one study, 56 volunteers produced a high level of antibodies against the virus without any dangerous side effects. In the other, researchers found that the vaccine strongly protected monkeys from coronavirus infections.

There are other vaccines that are further along with clinical trials, but Novavax’s stands out because it is protein-based — the same proven technology used for existing vaccines against diseases like shingles — which could make it safer and easier to manufacture in large amounts.

Our colleague Carl Zimmer, a science writer and author of “A Planet of Viruses,” thinks there will be a number of coronavirus vaccines that will turn out to be safe and effective. “I think that there will be a patchwork,” he told us. India, China, and Russia, could all end up with their own successful vaccines, he said, and “there may be vaccines that are better for old people and other groups.”

For Zimmer’s piece on Novavax, click here.

The most exciting thing today is all the tech innovation going on at an individual level. I like safaris by by video, e.g.

I can’t resist watching Federer magic.

These are called pluots

Pluots are hybrid between the Japanese plum and the apricot. The fruit’s smooth skin closely resembles a plum.

I just discovered them. They’re delicious.

Signs of the times

144 consecutive tennis games this pandemic

We’ve been playing on Mark Johnson’s tennis court in West Ghent, Columbia County, NY. He’s three miles from Bagel Tyme, Vallatie, NY with the best bagels outside New York City. We played our 146th game this morning. Good for the brain. Nothing better than a top-spin forehand cross-court or a down-the-line backhand. Feel good stuff.

I have a bunch of impressive innovations in technology I’ve discovered. I wanted to get this column out before the market closed.

See you shortly – Harry Newton

  • Glenn

    Will be interesting how you do against a different opponent. What makes tennis so great is that no 2 players are the same and playing the same person over and over can actually make your game worse in the end. But I get it’s about being outside and staying active…From your Friday post, agree that Verizon sucks. One of the few stocks I purchased in March and probably the only stock that hasn’t gone up. Went into Verizon stores a couple weeks ago. Wow are they in disarray. Both stores literally had no clue how Verizon 5G products worked or how to sell them. Verizon is spending a ton on advertising 5G. Not good. And the employees had no clue how to wear masks at both stores and they spent all this money on putting Covid protocols in place.