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6 Tech Stocks to Ride 2010 Rally: Manager
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CNBC.com Writer
The Nasdaq has risen over 40 percent year to date with the help of technology stocks. Bob Turner, chief investment officer and portfolio manager of Turner Investment Partners, said the sector is likely to lead the trend in 2010. He also shared his stock picks with CNBC.
“There are several drivers: We have the concept of global Internet where people have hand-held devices where they have Internet access and that’s going to drive a lot of technology spending,” Turner told CNBC.
“Secondly, enterprise hasn’t spent money in a long time and they’ll start spending as well.”
Additionally, Turner said hundreds of millions of consumers from the emerging markets will start buying automobiles, telephones and TVs for the first time, which will help boost the technology stocks.
Turner's Recommendations:
Apple [AAPL
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Qualcomm [QCOM
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Cisco [CSCO
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F5 Networks [FFIV
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Alcatel-Lucent [ALU
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Longtop Financial [LFT
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“With cloud computing, it takes a lot of servers off companies’ premises and moves them out into the cloud. And with virtualization, you need fewer of them,” he said.
“So Hewlett-Packard [HPQ
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More Market Views:
- Markets Will Rally — Buy These 8 Stocks: Managers
- Google Phone No Threat to Apple: Tech Analysts
- S&P 1200-1250 'Very Possible' in 2010: Chief Investor
CNBC Data Pages:
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Disclosures:
Turner’s firm owns shares of APPL, QCOM, FFIV, CSCO, JNPR, BRCM, NETL, CRM, MU and LFT.
Turner does not own shares of MSFT, VMW, HPQ, DELL.
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