Over the next week or so, quarterly results will grab the spotlight as earnings season kicks into high gear. Of course, nearly every trader will have an eye on Apple, which reports on Tuesday but a whole lot of other companies will also issue their releases.
That includes favorites often talked about on the Fast Money desk. Take a look:
|IBM (IBM)||July 18|
|Intel (INTC)||July 19|
|Microsoft (MSFT)||July 21|
|McDonalds (MCD)||July 22|
|Netflix (NFLX)||July 25|
Of all the names mentioned above the Fast Money traders are bullish on old tech – Intel and Microsoft .
You read that’s right – Intel and Microsoft - the two tech titans that had become dead money - stuck in the mud trades.
The Fast gang thinks they might be hot again.
Brian Kelly likes Intel because it provides broad tech exposure and he expects to see the rotation into tech continue. But also he likes the stock because the dividend it generates can pay for a hedge – such as a put spread. “It’s almost a free shot,” he says.
Patty Edwards is bullish because, “out of the list above it has the least exposure to Europe and I think Europe is going to be a drag for a lot of companies.”
Jon Najarian recommends it too. “We heard this week that PC sales are not dead. That bodes well for Intel into earnings.”
Jon’s brother Pete Najarian can’t believe the desk left out Microsoft. “I think there’s plenty of upside and they provide a nice dividend yield. I think it’s a key name into earnings.”
And, if you don’t want to play old tech, both Patty Edwards and Pete Najarian also like long McDonald’s. “If you look at results released a few days back from Yum! I’d expect to hear McDonald’s crushed in the Asia markets,” says Najarian.
What do you think? We want to know!