Snap Chat CEO warns that Q2 revenues and earnings will be below previous guidance… thus the crash of 30% post market last night.. basically the market is interpreting it that “Recession is here!!! Advertising will plunge!!!!”
FB down 7% post market..
GOOG down 3% post market
Do expect US market to be blood red tonight…
I like both FB and GOOG… if u looking to build a portfolio for long term I think these 2 are the big tech giants that you must strongly consider for bargain hunting as both are below PE 20 already… but don’t expect them to crash to like PE 10 like what happened to Alibaba… PE 15 to PE 20 range is okay to jiak and hold for long term… these 2 are super cash cows, fortress like cash heavy balance sheets that will survive this recession easily