Have Tech Stocks Hit A Reset Moment?

While tech firms may benefit from a longer-term “renaissance” in AI, TD Wealth’s Chief Wealth Strategist Brad Simpson says the recent selloff may be a “reset moment” for the sector.

Transcript

Anthony Okolie: While many of the high-flying tech stocks have come under pressure recently, our featured guest today says that investors need to be thinking about the longer-term renaissance that’s happening in the sector. Joining us now with more is Brad Simpson, Chief Wealth Strategist with TD Wealth.

And Brad, welcome to the show.

Brad Simpson: It’s great to be here.

Anthony Okolie: Alright. So, for people who haven’t seen it yet, what’s the big theme of your latest portfolio strategy quarterly? And what inspired that title?

Brad Simpson: Yeah, it’s a big title, isn’t it? “The Brand New Renaissance.” I think the reality is, we wanted to make a publication that, on first blush, it seems like a lot of hyperbole. We are of this belief that– and I think that we are in the middle of the second Renaissance right now. And the first one was 500 years ago, and we’re in the middle of a new one. And I don’t think that’s an overstatement.

And so what inspired us was, on one hand, was that we really wanted to map that out and what does that mean– take it and go back a little bit and actually look at the original Renaissance and what were some of the implications of it, and then compare it to today.

But also to hit home that this is happening at a massive rate, like a 10 times rate. The Renaissance unrolled over a series over a couple hundred years. We’re seeing this unfold rapidly, and it’s changing not just in the things that we’re seeing around us, but how we think about our cognition