Investors have lost their appetite for tech stocks amid a flight to safety this year. Tuesday’s sell-off on Wall Street saw the six biggest US tech companies plunging more than $500 billion in market capitalization after stocks tumbled after reporting warmer-than-expected August inflation. Top tech investor Paul Meeks is advising investors to stay away for now — until a storm subsides, ready to toss the hatch down. “I think technology should be avoided for the time being unless one is really a long-term investor. Now, many people say they are, but they are bothered by short-term losses, so they really aren’t. ,” Meeks, portfolio manager at Independent Solutions Wealth Management, told CNBC’s “Street Signs Asia” on Thursday. “Add an inventory correction to the current troubles with semiconductors, and it’s another reason to stay away because the field probably can’t perform better without semiconductor recovery.” Against this backdrop, Meeks is choosing to stay defensive in this area, preferring safe bets with “unusually high cash levels.” Here’s what he had to say about the two tech giants: Apple and Samsung. In the short-term exposure to semiconductors, Meeks prefers Apple for its relative safety. “The most troubled part of the tech sector around the world right now is semiconductors. They are suffering from all kinds of troubles. Firstly, the knock-on effects of the Covid-19 pandemic, but it has only recently gotten worse as there is no longer a semiconductor There is inventory improvement around the world,” he said. He believes Samsung will be “severely affected,” as it gets about a third of its revenue from its memory chip business. The South Korean electronics giant saw its semiconductor segment grow 18% in the second quarter of the year, a performance that Meeks called “heroic in a recession.” But he said investors should expect the segment to show “some loss” in the third quarter, as inventory correction has come “fast and furious” after Samsung reported its earnings. Meeks thus believes Apple is a safe bet in the short term because it doesn’t have as much exposure to the troubled semiconductor sector. “The semiconductor business is a great business, but it’s extremely cyclical. While Apple does a lot of things well, they’re not in the semiconductor business,” he said. Samsung a long-term bet? In the long term, though, Meeks believes Samsung is the better bet. “In the long term, once you outweigh the short- and intermediate-term risks, I’d probably prefer Samsung. Although they are both great companies, Samsung is much cheaper.” “What I see is that a year or so from now, you’ll want to be at Samsung. The cheaper valuations, the bigger the upside and you’ll be in for a decent snapback in semiconductors. I’ll be in about the middle of the next few quarters.” I’m worried here and then,” he said. Apple shares are down 12.2% this year, though they have outperformed the tech-heavy Nasdaq Composite, which has lost about 25% of its market value over the same period. According to data from FactSet, the company is buy-rated by 78 percent of the analysts who cover it, giving it a potential lead of 17.5% on average.Samsung lost nearly a third of its market cap in this year’s tech route But it is buy-rated by 94% of analysts covering the stock.FactSet data shows that the stock has an average potential growth of 43.1%.