In a bear market such as what we’ve been experiencing for the past few weeks, it’s hard to justify buying into tech stocks. Even the biggest and baddest of them all – like first-ever $1 trillion company Apple Inc. (NasdaqGS:AAPL), which slipped below $200 a share – are feeling the heat.
On the latest episode of Varney & Co., Starbucks Corp. (NasdaqGS:SBUX) has announced that it’s laying off 5% of its global workforce in reflection of its steadily slowing sales. Shah Gilani said he’s never been impressed with the company, and that he’d short the stock – because it definitely go lower from here. Speaking of stocks that could drop lower, another Tesla Inc. (NasdaqGS:TSLA) executive has left the company. This could leave the already-wobbly company in a vulnerable state. Do you think that this could send the company’s stock lower?