CNBC Stock Blog

Expect Tech Sector to Rise in Q4: Strategist

Markets opened lower Friday as technology shares took yet another hit. Where should investors be looking to put their money? Jeffrey Kleintop, chief market strategist at LPL Financial and David Fleisher, president of Firstrust Financial Resources shared their sector outlooks.

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“I still like tech,” Kleintop told CNBC. “As we go through the fourth quarter, we’ll continue to see good sales growth there … there’s still a lot of worries about the consumer this holiday season and ultimately, the consumer will do better than expected."

"The business spending side, particularly exports to the emerging markets are really going to shine through in the tech results when they get reported and that will pull the sector higher through the rest of the fourth quarter," he added.

Kleintop said he expects the market rally to continue and told investors that he favors the base metals over the precious metals.

“The emerging global manufacturing recovery—all that speaks to a still very positive environment for base metals,” he said. “There’s so much demand for commodities as this cycle begins to turn around…[But] buy the stocks, not the commodities themselves—the stocks tend to outperform in the short and long term, the underlying commodities.”

In the meantime, Fleisher said a 10 percent market swing in either direction would not be surprising.

“And a 10 percent downward would be a buying opportunity,” he said. “It gives us a great entry point for people on the sidelines who are a little bit late to the game. And if you look at it as a fiber in a healthy diet, given how far we’ve come, the opportunity for people to get in at a reasonable entry point is certainly not bad for the long haul.”

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No immediate information was available for Fleisher or Kleintop.