Strategist Sticks with Tech Picks
CNBC.com Writer
Peter Misek, a global technology strategist at Canaccord Adams is bullish on tech stocks. He says “tech -- both in growth and earnings are going to look pretty good. We particularly like the multi-nationals.”
Recommendations:
IBM -– “Companies view it as a cost saving tool… [IBM’s] growth has been very strong – well over 30%. We expect that they had a great quarter, and we’re going to expect to see that strength over the next several quarters.”
Microsoft -– “We like it because we no longer believe they are going to buy all of Yahoo… You’ll be buying a company worth 10 times next year’s earnings.”
Research in Motion -- While Apple’s new iPhone 3G is already facing activation issues from customers, RIMM’s products with “more battery efficiency, bandwidth, efficiency and pricing will be much more attractive to consumers.”
