Between IBM, Juniper, Microsoft and SAP, the guys are ready to make a declaration: business spending is back. What’s the trade as businesses buy more computers, servers and software?
According to Gartner, the worldwide PC market growth is ticking up for the first time in years. Tech earnings have been explosive so far and cap spending on tech appears to be back. Jeff Macke thinks Intel (INTC) and Hewlett-Packard (HPQ) are both buys right here, and Microsoft (MSFT) is a buy on the dip. $31 used to be resistance for MSFT but now it has become support. “Buy it here,” he says.
Eric also likes HPQ, along with IBM (IBM) which is up over 4% today on its earnings report, and the chip makers.
Pete is focused on the networking stocks like Juniper (JNPR). Also, keep Marvell (MRVL) on the radar, he advises. The other semis are up 18-20% while Marvell has lagged for no particular reason. It could be ready to run.
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Trader disclosure: On July 19th 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC); Bolling Owns (NMX), Copper, Gold, Silver, Platinum; Bolling Is Short (FXI) And Owns (FXI) Puts; Seymour Owns (ABV), (AAPL), (GLD), (INTC), (MSFT), (SBUX), (TIE), Macke Writes For Financial Education Website Minyanville.com, CNBC Is A Service Of NBC Universal And Dow Jones