Blackrock CIO: Working Back with Tech Bets
Last month, he heard the bell ringing. Now, he sees a long road to recovery. BlackRock vice chairman and global CIO of equities Bob Doll believes there's a lot of ground to be regained.
"Our best guess is, we're going to bounce around between zero and 2 percent real GDP for the foreseeable future," he said on CNBC Tuesday. "We think we've passed the low -- that was March 17 -- and we will work our way irregularly higher in this bottoming process."
That, he adds, makes careful stock picking more important than ever. Technology is one of the strongest sectors in which investors can work their way up from the bottom. So what are his tech picks?
"In the mega-cap space, we still like IBM, we still like Hewlett-Packard, Oracle, Microsoft," he said. "Those are names that have that broad-vased, non U.S. growth, most of them market-share leaders, gaining market share, free cash flow, buying back stock...and not expensive, all the things you want when you look at these kind of companies."
Disclosure information for this guest on these stocks was not available.