Bargain Tech & Energy Stocks
Intel stock is taking a pounding from its disappointing earnings report, but Bart Geer of Putnam Investments thinks it's become a real bargain. He named other stock picks, too -- in energy, despite fears of a U.S. recession.
"Intel, at these prices, is a great deal," he told CNBC.
"They're the leading company in a duopoly. The other company has been significantly weakened in the last couple of years. This is a value we haven't seen in two years, and the last time we saw this price, AMD was gaining market share; today, they're losing market share."
Geer favors a couple of oil companies as well.
"Both Sunoco and Valero are names that we like," he said.
"They're less than eight times earnings. We do think the weakness in the economy has gotten a lot of investors concerned, and inventories have not been quite as tight as they have been for a few years now, but at these prices, the margins don't have to be what they were the last two years to have these stocks be cheap."