After a sharp selloff last week, techs saw a strong comeback on Monday with the Nasdaq rising almost 5 percent. Will the sector lead the markets out of a correction? Ted Moore, portfolio manager at Fifth Third Asset Management, and Ronald Gruia, principal telecom analyst at Frost & Sullivan, discussed their best picks.
“Asia is growing its technology share more than Europe, but Europe comprises a large component and tech is more internationally exposed than most other sectors in the S&P,” Moore told CNBC.
“In the long-term, that’s a form of diversification and growth.” (Scroll down for Moore's stock picks.)
Moore said although the European exposure can inhibit near-term growth for tech, the diversification is positive and lowers risk for investors in the long-run.
In the meantime, Gruia said major indicators are pointing to an increased cap-ex spending on both the enterprise and the operating segment areas.
“So we’re going to see the back end loaded this year, with operators spending a lot of money in the second half of the year,” he said.
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Moore does not own shares of XRX, INTC, HPQ, EBAY or MSFT.
Gruia owns shares of CSCO, but does not own shares of AAPL, GOOG, TKLC or VOLT.