We’ve seen it before and we’re seeing it again: tech stocks jumping on virtually no news. Investors are beginning to bet on a spending tidal wave coming the tech industry’s way.
Hewlett-Packard (HPQ) jumped 3% today as investors continue to bet on corporate spending – and Cisco (CSCO) went up 4% in anticipation of big earnings for the bellwether next week.
The PC names are performing especially well as of late. Guy Adami is a buyer of Dell (DELL) and Eric Bolling likes IBM (IBM), but the entire desk agrees on one name: Hewlett-Packard. HPQ is a stock to own, they say.
Pete Najarian likes the servers as well, including Cisco but also Juniper (JNPR) and Sun Micro (SUNW).
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