NEW YORK (TheStreet) -- Several tech stocks failed to participate in last week's post-election market rally. Some have argued that the market rotation to financials and infrastructure-based stocks from tech stocks, correlates with President-elect Donald Trump's infrastructure spend goal.
"With all this rhetoric pre and post-election and with the sector rotation in and out, some of these technology companies, despite reporting pretty good quarters recently, have come down and I think it's unjustified," Sloy, Dahl & Holst CIO Paul Meeks said on CNBC's "Squawk Box" this morning.
The push into cloud computing will deliver robust growth in the near-term for tech stocks, he added.
"There are some great buying opportunities which I haven't seen in technology in several months," Meeks noted.
As to which companies he would be a buyer of, Meeks pointed to Amazon.com (AMZN) and Facebook (FB).
He sees Facebook carried higher by its "long runway" with messenger and video, while Amazon will continue to benefit from its Amazon Web Services (AWS).
"I think Amazon is attractive here, I think the downside to Amazon is probably its 200-day moving average, which does give you five percent lower risk, but I think the stock does go up higher," Meeks said.
(Facebook is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trial here.)
(Amazon.com is held in the Growth Seeker portfolio. See all of the holdings with a free trial).