Siebert's Mark Malek Calls Tech and AI Pullbacks Buying Opportunities, Urging Valuation Selectivity

Siebert Financial ($SIEB) Chief Investment Officer Mark Malek argued that broad market selloffs represent attractive long-term buying opportunities—especially across technology and artificial intelligence—while cautioning that prevailing valuation multiples require investors to exercise strict selectivity.
Malek noted that recent tech pullbacks largely reflect macro-driven multiple compression and rate volatility rather than deteriorating business fundamentals. While maintaining that AI remains a structural, multi-decade capital expenditure cycle akin to the early internet buildout, he warned against treating all sector beneficiaries equally, noting that companies lacking durable revenue models, cash flows, or proprietary technological moats face sustained multiple risk at elevated valuation levels.
The perspective underscores a shifting market environment where broad-basket tech exposure is giving way to disciplined stock picking, favoring firms with visible earnings execution, recurring customer adoption, and core hardware/cloud positioning over speculative momentum plays.