EDITOR

Giovanny Moreano
Quantitative Analyst at CNBC

CONTRIBUTORS

Gina Francolla
Senior Producer of Quantitative & Market Data Services at CNBC
Robert Hum
Markets Producer for CNBC
Yolaiki Gonzalez
Market Data Analyst at CNBC
Marc Briganti
Market Data Analyst at CNBC
Kristen Scholer
Markets Producer for CNBC

ABOUT BY THE NUMBERS

Our market specialists dig deep into Wall Street’s daily metrics, crunching the numbers to help you become smarter about the market so that you can make better investment decisions. By The Numbers details the daily drama, the winners and losers, how the day stacks up historically, and how the numbers can offer a glimpse of the future.

KEY MARKET DATA

» More

#GIOVANNYMOREANO ON TWITTER

» Help

CNBC EXPLAINS

Tech on the Cheap

Published: Monday, 24 Mar 2008 | 12:46 PM ET

Text Size

By: Ariel Nelson
Director of Market Data & Content Services

With the NASDAQ [COMP Loading... () ] soaring today, Dennis Kneale just pointed out on Power Lunch that there are many tech stocks that have been beaten up in the past few months but still have significant growth forecasts. The S&P 500 Information Technology Sector is down ~13% YTD and is the second worst performing sector overall. Within the sector, the Internet Software and Services Group is down ~22% while the Semiconductors Group is the only sub-sector up for the year.

Here is a screen of some tech stocks that may be on the cheap, down over 15% in the past three months but with double digit earnings growth forecasts for the next fiscal year.

Dennis also mentioned Convergys [CVG Loading... () ], down 6% but with a forecast of 16% growth. Our guests, Rob Sanderson and Roger Kay, pointed out RIMM and Microsoft as potential opportunities.