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).
Got something to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to email@example.com.
Trader disclosure: On Aug 2nd 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 (ATVI), (HAS), (DIS); Bolling Owns (MPEL), (BP), (T), (XOM),Gold; Bolling Is Short Natural Gas; WWE Programs Air On Networks Of NBC Universal; NBC Universal Is The Parent Company Of CNBC