Strategist Sticks with Tech Picks
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.”
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.”
Misek does not own shares in any of the companies mentioned above.