CNBC Stock Blog

Time to Buy US Tech Stocks: Strategists

U.S. technology company stocks are a port in the storm, when the broader market is shaky and European stocks closed Monday at a two-year low.

"We’re pretty negative about the overall situation in Europe. We think there are fundamental problems there," Uri Landesman, president at Platinum Partners, told CNBC Monday.

"I’m not really sure for the longer term why anybody would want to step into anything in Europe, let alone the banks, when stocks in the United States are so cheap."

He's bullish on technology stocks, particularly Comverse Technology and Verint Systems . Comverse, he said, is in the process of liquidating its holding in Verint.

He said these are "defensive stocks with very little cyclicality. They’re going to do very, very well."

Ned Riley, CEO of Riley Asset Management, also likes tech stocks, singling out the PowerShares QQQ Trust .

"I’ve liked the Qs for the last 2.5 years. They’ve outstripped the S&P 500 and there’s a simple reason — the companies within that Nasdaq 100 have strong unit growth on a secular basis," he said. In addition, "cash is no problem with these companies. We’ve seen the acquisitions just flying around right now."

CNBC Data Pages:


Disclosure information was not available for Uri Landesman, Ned Riley or their companies.