There is hope for technology stocks -- if you examine what's really in demand.
So say Andrew Bartels, vice president at Forrester Research and Brent Barcelin, senior analyst st Pacific Crest Securities. The two offered CNBC their outlooks on the tech market -- and the stocks they believe in.
- Video: Watch the full interview (5 mins, 53 secs)
Bartels notes that the "biggest spending slowdown" among corporations' IT buyers is in "computer [hardware] and communication equipment." But he said that Forrester "assumed there'd be a minor recession" -- and if the slowdown merely "skates around the edges" of the economic abyss, it could be tolerable.
He has faith in tech companies that offer products enabling other firms to reduce their costs -- specifically naming Oracle and SAP.
Bracelin sees a "sharp spike in adoption" of virtualization, a burgeoning software that he says can help streamline costs on the hardware side.
He praises tech firm VMware as "a leader" in virtualization, and expects the firm to grow by at least 50 percent this year. "We don't expect VMware to be impacted at all" by the overall slowdown, Bracelin said.