The Tech Trade
Is this the right time to jump back into tech? Pete Najarian thinks it might be.
The way Najarian sees it, the recent strength in stocks like DuPont and Monsanto , while not directly correlation to technology, bodes well for the sector. Those stocks are ramping as investors come back to the “global growth” story. Tech stands to benefit because many tech companies are hugely diversified overseas and do much of their sales internationally. So, the thinking goes, a bullish view on the world economy will extend to a bullish view on heavily international tech stocks.
Najarian especially likes the network names like Cisco and Juniper , which are on the front lines of a global wireless infrastructure build out. He also singled out Apple , which is seeing a nice bounce off its lows as investors put money back in. Apple is now a value play, he said, and this is as good a time as any to get in.
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