3 Under-the-Radar Tech Stocks: Pro
Online Producer
Three technology laggards – Cypress, Ariad and Silver Spring – have strong potential upside, Zack Safran of Ivy Science & Technology Fund said Monday.
"Certainly, despite all the things to worry about around the globe, tech related or not, a lot of stocks are just flat-out cheap," he said on CNBC's "Fast Money."
But, Safran added, these technology stocks were poised for outsize gains.
- Ariad has a "$3 billion market cap and a drug looking out five or so years has a potential $2 billion in revenue," he said. "We don't think that's appreciated."
- Silver Spring was a leader in the space, Safran added.
- Cypress, he also said, was a strong play on touchscreen technology.
"We think we're going to see touch units start to climb back up a lot," Safran added. "We can talk about screen size and Apple vs Samsung and everybody else, but whether it's smartphones or otherwise, (touch) is the way we're interacting."
Safran is portfolio manager of the Morningstar five-star-rated Ivy Science & Technology Fund, with $4 billion in assets under management.
Top holdings in the fund include Aspen Technology, Alliance Data Systems, Apple, Samsung and ACI.
