9 Winning Tech Picks: Portfolio Managers
CNBC.com Writer
The Nasdaq is currently up significantly since the March lows of 2009, but still well below the all-time highs of 10 years ago. Does it have further room to run—and where should investors put their money? Kevin Landis, portfolio manager at The Firsthand Funds, and Richard Parower, portfolio manager at J&W Seligman, discussed their outlooks. (See their stock picks, below.)
“Valuations are pretty mild these days and there’s not a lot of exuberance built into it,” Landis told CNBC.
He said there needs to be a further catalyst, in addition to an economic recovery, for tech stocks to continue rising. But he does favor a few names (see below).
Parower, on the other hand, said he is bullish on the sector.
“At some point, as long as the economy keeps recovering, tech looks pretty interesting because companies are going to invest in technology to improve profitability and business. So we generally feel pretty good about tech,” he explained.
He advised investors to focus on areas such as software, hardware and semiconductors, while avoiding the services and telecom equipment areas.
Stock Recommendations:
Landis Likes:
Netflix
Verifone
Apple
Qualcomm
Corning
Parower Likes:
Check Point Software
Symantec
Microsoft
Amdocs Limited
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Disclosures:
Landis owns shares of NFLX, PAY, AAPL, QCOM and GLW via owning his funds.
Parower owns shares of SYMC, DOX and CHKP via owning his funds.
Parower’s firm owns more than 1% of SYMC, DOX and CHKP.
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