The recent rise in the Nasdaq may bring back happy, as well as painful, memories for tech investors. Analysts appearing on CNBC's "Morning Call" disagreed over whether or not the Nasdaq has more room to run.
Even though the Nasdaq is up 25% since July, to around 2500, David Dietze, President and Chief Investment Strategist at Point View Financial Services, believes the tech-heavy index could rise another 20% in the next year.
Dietze says analysts are projecting a 15% growth rate in earnings and Nasdaq 3000 is only 19% away. He says a "slight bump up in the multiple" will get the index to that level. Dietze believes the main drivers of growth in technology will be the new Microsoft Vista software and demand for internet technology overseas, particularly in China.