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As investors worry about declines in technology company stocks, CEO Richard Prati of American Technology Research told CNBC he still feels bullish about names in the sector.
“People are concerned about spending," Prati said. "With the credit crunch, you can definitely see the decline in spending and it’s easy to see spending for the consumer can go to zero.”
However, Prati said there are "selective places where you want to be putting money to work."
Recommendations:
Among the companies Prati likes are First Solar [FSLR
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], he said, noting that “If you can save money and help the environment, then that’s the place to be right now."
Prati gave Research in Motion [RIMM
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] and Qualcomm [FSLR
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] as two other stocks in the tech arena that he favors now.
Disclosure
Richard Prati personally owns shares from Research in Motion. No immediate information was available for his company.
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