FAANG stocks displayed at the Nasdaq.
Adam Jeffery | CNBC
(This story is for CNBC Pro subscribers only.)
Goldman Sachs' chief U.S. equity strategist told CNBC on Tuesday that technology stocks still offer long-term investors the best growth potential despite a recent rotation into value-oriented names.
"The idea of better growth still rests with technology," David Kostin said on "Squawk on the Street," adding the low-interest rate policy that is likely to persist for years in the wake of the coronavirus pandemic further benefits those stocks.
"The better growth long-term is more valuable, is more prized, in a low-rate environment. So that's the story, if you will, behind the tech argument. That's what I would put forward as to why to focus on the longer-term growth."
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August 11, 2020 at 11:48PM
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Goldman Sachs chief equity strategist says tech is still the best long-term bet - CNBC
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