'There's nothing cheap about Amazon' shares -CIO

STORY: Shares of Amazon.com declined on Wednesday and chipmakers came under pressure after a bearish brokerage report on Intel, shares of which slid 5% after Citi Research warned it could pre-announce weaker-than-expected earnings for the second quarter.

"Long-term investors in Intel are aware that this is going to be the case for a couple years," said Bahnsen, who owns shares of Intel. "Before they can sort of realize the profits from the investment they're making into chip manufacturing, there's going to continue to be an outlay of costs that's going to impact margins."