Manager: Chips a Tasty Buy In Slowdown
As the economy slows, Jeff Krumpelman finds strong promise in the chips. The senior portfolio manager for Fifth Third Asset Management specifically likes Intel. It's a large-cap company with a policy of dividend growth.
"About 80 percent of its revenues come from outside the United States," Krumpelman explained to CNBC. "In terms of their exposure to the financial enterprise sector, it's about 10 percent, so they're largely insulated."
He's also impressed with the company's specific catalysts.
"We think that their microprocessor family is very strong," he said. "They've just refreshed their product portfolio, and have a competitive edge now versus AMD."
Krumpelman sees Intel drawing strength from continued high levels of demand for personal computers.
"End-market demand is extremely strong in PCs, surprisingly strong," he said.
He does not personally own Intel, but his funds do.