Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOGL) are still cheap stocks to own, Roger McNamee said in an interview with CNBC where he also raised concern about the chaos happening around the world.
The comment by the Elevation Partners co-founder about Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOGL) comes as McNamee also said he was concerned about the valuation of private companies like Uber.
“I really think the way to look at the tech market is to recognize it’s now in the high ‘teens’ as a percentage of the economy so it’s not a single thing. There are a lot of things going on within it and the part that microchip touches is very broad but it’s not the whole definition,” McNamee said.
He added that people can choose to invest in technology companies like the giants Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOGL) and find that these stocks are relatively cheap.
“The truth of the matter is that the tech sector today is a very large, very mature sector. The good thing is that stocks like Apple and Google are really inexpensive so you don’t have to believe in an industry-wide recovery to find places to invest today,” he said.
Later on, he said that the $19 billion valuation for WhatsApp may make sense for the likes of Facebook Inc (NASDAQ:FB). It’s the valuation for smaller private companies that he is worried about, he said.
Aside from commenting on Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOGL), McNamee said that he is worried about the chaos around the world which makes the markets volatile.
Apple Inc. (NASDAQ:AAPL) investors includes Philippe Laffont’s Coatue Management which reported about 10.1 million shares in the company by the end of the first half of the year. Ken Fisher’s Fisher Asset Management reported owning 745,519 Google Inc (NASDAQ:GOOGL) shares by the same period.