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Beware Big Cap Tech Until October

If you’re looking to put money to work in the tech sector, there’s something you should know.

Top investor Dan Niles of Alpha One says anything PC related will remain weak until October.

That’s because Microsoft has set an official launch date for Windows 8 – it’s Friday October 26th.

“This is a very important product launch,” says Niles. “It introduces touch to the PC. Although you can do that with smartphones now and with tablets now, you can’t do that with PC. So why would anybody buy a portable before that?”

Niles says, they wouldn’t.

“So that makes the PC market pretty tough.” And by proxy any stock tethered to PC demand.

Niles adds that Apple investors are looking at a similar situation. “They’re expected to launch the iPhone 5 in the fall as well as a smaller tablet.”

Again, he thinks people will wait to buy putting a crimp on demand.

“These are specific things that make the near-term tough,” Niles says.

However, Niles isn’t all gloom and doom. He thinks once Windows 8 comes out as well as the iPhone 5 and iPad mini people will buy. “And then into Q4 they become interesting plays.”

Posted by CNBC's Lee Brodie

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Trader disclosure: On July 20, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long JPM CALLS; Pete Najarian is long INTC; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long EBAY CALLS; Pete Najarian is long MRK; Jon Najarian is long GLD; Jon Najarian is long SBUX; Jon Najarian is long FB; Jon Najarian is long EBAY; Jon Najarian is long KYAK; Jon Najarian is long GLUU; Jon Najarian is long SNDK; Jon Najarian is long BHI; Jon Najarian is long CIGX; Jon Najarian is long GLUU; Jon Najarian is long CME; Jon Najarian is long CBOE; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long USB; Joe Terranova is long GS; Joe Terranova is long JPM; Joe Terranova is long YHOO; Joe Terranova is long SBUX; Joe Terranova is long NKE; Joe Terranova is long WFM; Joe Terranova is long AAPL; Joe Terranova is long EMC; Joe Terranova is long NXPI; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long D; Steve Grasso is long FRO; Steve Grasso is long LF; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MO; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long VLO; Steve Grasso is long XLU

For Paul Richards
Nothing to Disclose

For Jeff Kilburg
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For Dan Niles
We have positions both as a firm and individually in GLUU
We have positions both as a firm and individually in AAPL
We have positions both as a firm and individually in MSFT
We have positions both as a firm and individually in FB
We have positions both as a firm and individually in INTC
We have positions both as a firm and individually in PAY
We have positions both as a firm and individually in QCOM
We have positions both as a firm and individually in DIS
We have positions both as a firm and individually in TWX
We have positions both as a firm and individually in LGF

For Barbara Ryan
Company an Investment Banking client of DBSI: JNJ
Deutsche Bank and/or its affiliate(s) has received non-investment banking related compensation from this company within the past year: JNJ
This company has been a client of Deutsche Bank Securities Inc. within the past year, during which time it received non-investment banking securities related services: JNJ

For Bryan Elliott
This company has been a client of Deutsche Bank Securities Inc. within the past year, during which time it received non-investment banking securities related services: CMG


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