It's the right time to invest in technology stocks, said Noah Blackstein, portfolio manager at Dynamic Mutual Funds.
“The valuations are exceptionally low, and these [technology] companies have managed their business as if we were in a recession since 2002,” Blackstein told CNBC. “So the balance sheets are very strong and they’re very defensive.”
“Smart phone growth is exceptional. Not only is it contributing to strong growth, but it’s improving the margins of both companies,” he said of AT&T and Verizon.
Research in Motion
“The wireless and smart phone area continue to be the huge drivers of growth and grew quite rapidly despite the fall in the stock prices during the recession,” said Blackstein.
No immediate information was available for Blackstein or his firm.