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Tech Stock Renaissance: What to Buy

The Nasdaq Composite, the Philadelphia Semiconductor Index (PHILX) and the Morgan Stanley Technology 35 index all saw gains on Wednesday. Is the tech sector coming back?

Tara Hedlund, portfolio manager at Turner Investment Partners, and Roger Kay, president of Endpoint Technologies, think so -- and they told CNBC which stocks will enjoy the tech renaissance.

  • Video: Watch the entire interview (5 mins, 30 secs)

Hedlund pointed to Cisco Systems as a positive weather-vane for the sector: "We were quite encouraged by the action in Cisco after its earnings call," she said.

She noted the attractive valuation, low debt and high cash levels currently found in such big-cap tech firms as Oracle.

Kay recommends companies able to utilize "Web 2.0 capabilities." Specifically, he likes VMware, Apple, Google, eBay and Amazon.com.

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