Congress Postpones Hearings on the Status of Big Tech

Congress announced their hearing on splitting up big tech companies would be pushed back to mid-August. Equity Research Analyst, Dan Ives, appeared on CNBC to discuss the status of the industry, and how investors are responding to the news. He explains investors were already in a period of risk off trade before the announcement. Despite recent challenges, he believes big tech and FAANG could grow 20-30% over the next 12 months.