Despite the recent market woes - there has been one pocket of relative strength in a turbulent tape; technology. Call it the Teflon rally - as names such as EMC Corp (EMC), Amazon (AMZN), and Cisco (CSCO) trounced the overall markets in the past three months. But will it continue to be the trade come fall?
CNBC Silicon Valley Bureau Chief Jim Goldman joins the guys for this conversation. Here are excerpts from what was said.
WHAT TO WATCH: TECHNOLOGY:
Will Tech Keep Outperforming in the Fall?
Goldman explains that there is a myriad of events taking place this fall that will indicate whether the current flight to quality in tech will hold. The much-anticipated Halo 3 - a $1 billion franchise - will come out for X-Box and should be huge for Microsoft (MSFT), he says.
Intel’s (INTC) Developer Forum is also an annual event that tends to “juice the stock” and Goldman anticipates it will be no different this year as Intel is expected to put an emphasis on mobile computing.
There’s also the speculation that Apple (AAPL) will introduce a new version of the iPhone ahead of the holiday season and the expected unveiling of AMD’s (AMD) new Barcelona chip on Sept. 10.
Jeff Macke thinks the Halo anticipation is “in the market already,” but will likely be the “final spasm” for Sony’s PS3 console. He wants to stay long Intel, as it’s exemplary of the current tech security blanket.
Pete Najarian thinks there will, indeed, be a new, more inexpensive iPhone before Christmas. It’s Apple’s market to have, he says.
Money is coming out of energy – and now commodities – and flowing right into tech, Guy Adami says, which has been underowned for the last three years.
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Trader disclosure: On the date of taping, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Seymour Owns (AAPL), (TWX), (INTC), Is Short (MS); Macke Owns (EMC), (INTC), (ATVI), (DIS); NBC Universal is the Parent Company of CNBC