The tech sector rally is going to continue and investors should jump in right now, said Chris Armbruster of Al Frank Asset Management and Jon Fisher of Fifth Third Asset Management. (See below for their stock recommendations.)
“Tech will definitely be one of the leaders on the upside,” said Armbruster. “We’ve started to see some of the bottoming as reported by IBM, Intel and Cisco so it could be one of the sectors that could lead us out. But we’re trying to look for the undervalued stocks within these sectors to buy at this time.”
Fisher agreed and said that the tech rally will continue. (Watch the video for more sector insights.)
“You’re looking at a sector that for the entire decade, has been over-owned and has been a laggard sector except for maybe 2003 and some of the global names in 2007,” said Fisher.
“And I think you’re at a point where investors are selling their over-owned technology positions. You’re also at a point where companies are showing surprises to the upside and showing some actual improving fundamentals. They're worth increasing exposure to now.”
Heartland Payment Systems
Armbruster’s firm owns shares of Altera, Intel and Heartland Payment. Fisher does not own shares of any of the companies mentioned above.