GO
Loading...

Top Tech Picks for 2013: Walter Price

As sales of PCs draws down, there are still strong technology plays for 2013, Walter Price of Allianz RCM Technology Fund said Tuesday on CNBC.

On "Fast Money," Price highlighted social media and hardware as drivers of the sector.

"I'm not a big fan of the PC, but I am a big fan of storage," he said. "When I see the growth rate in cameras and postings on Facebook and smartphones, I think people are going to continue to interact with media. And the best way to store videos or photos is on disk drives."

Price's top picks included Google, Amazon, Rackspace, Western Digital, Seagate, Fusion-IO and Facebook.

Computing cloud companies, he noted, have a growing need for storage.

"They don't buy a lot of PCs," he said, adding that the lull in some of these storage names will disappear as computers cede to the cloud.

Price said the sector could see a return to a growth rate to 5 to 10 percent, "and the stocks are very cheap."

Tim Seymour of EmergingMoney.com didn't like the valuations of picks such as Salesforce.com.

"I'm a value investor, so it's hard for me to chase a stock that's really somewhere between 200 and 300 times earnings, but that's what people are trying to do here, and this scares me," he said.


Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET

Halftime Report

  • Bill Nygren, Oakmark Fund, explains why Apache, Bank of America and Google will be winners in 2015.

  • Nick Tiller, Sustainable America founder and chairman, tells CNBC's Kate Kelly oil prices are poised for a tradable rally. Tiller likes the Brent ETF and energy sector.

  • Discussing interesting trends contributing to the market's rally into year's end, with the FMHR trader Josh Brown and Dan Greenhaus, BTIG.