Wall Street legend Byron Wien doesn’t find technology’s bearish start to the week disturbing.
In fact, it’s his leading sector pick.
When it comes to tech’s bull run, “I don’t think it’s ever over,” Wien said Monday on CNBC’s “Trading Nation.”
The Nasdaq registered its first four-day losing streak since November — and posted its worst day since Sept. 5.
But Wien is clearly not discouraged by the recent numbers.
“There’s always going to be technology companies that are going to surprise you with earnings on the upside,” the Blackstone vice chairman said.
Investors may want to listen to Wien, who’s been firmly in the bull camp. His track record on the broader markets has been solid.
His 2017 forecast called for the S&P 500 to jump by 10 percent to 2,500. The index is trading around that mark right now.
Despite the recent challenges, the Nasdaq has still surged 23 percent since the November presidential election.
But there may be little upside left. Wien predicts most of the gains are baked into stocks for 2017.
He’s also not discounting a pause in some of the tech leaders’ gains.
Yet America’s most widely owned stock may see a different fate, according to Wien.