Two Big-Name Tech Stocks to Own
While overall stock valuations aren’t much more attractive than bonds, some areas like technology are appealing, Rob Morgan, president of Dearden, Maguire, Weaver and Barrett, said on CNBC Tuesday.
Earnings estimates are going up in technology and that trend should continue, with a lower dollar favoring large-cap stocks compared to small-cap stocks, Morgan told “Worldwide Exchange.”
Cisco Systems is “really well positioned to take advantage of the migration going on in the telecom sector,” he said.
And Hewlett-Packard is becoming more a growth company than a cost-cutting company, Morgan said.
In addition to tech, materials and energy companies will see an earnings boost due to the falling dollar and the re-emergence of emerging market economies, he noted.
Disclaimer: Morgan does not own Cisco Systems or HP and does not having an investment banking relationship with either company.