After Thursday’s slump wiped $1.4 trillion in market capitalization from the Nasdaq 100 Stock Index, buying opportunities are now presenting themselves.
The recent tariffs imposed on China and Taiwan, as well as the potential taxes on production bases like Vietnam and India, are a disastrous setup for companies like Apple Inc., Nvidia Corp., and Broadcom Corp.
Investors reacted swiftly to the news, with Apple shares tumbling 9.3% on Thursday, erasing more than $310 billion from the company’s market value.
According to Jason Britton, chief investment officer at Reflection Asset Management, the current situation has created significant pockets of opportunity for buying strong businesses.