Tech Stocks Still a 'Buy': Stock Picker
Technology products are becoming less of a discretionary item and more a necessity to consumers, said Mark Demos, portfolio manager at Fifth Third Asset Management. He told investors where the next tech hotspots will be. (See his stock picks, below.)
“Tech spending has not been as bad as what people had thought, given the recession that we’re in,” Demos told CNBC.
Demos said as more tech products become ingrained in everyday lives, the sector will be a great growth driver.
“Tech has performed well since the bottom,” he said.
“But it has been underperforming the markets for the past month. Tech spending and consumption is going to be good enough—and we should buy heading into September.”
Demos said he likes the handset and notebook areas of the sector best.
Research in Motion
No immediate information was available for Demos or his firm.