Tech Stocks: Playing The 'IBM Surprise'

IBM posted a 24 percent profit rise in a preliminary earnings release on Monday -- jumping the gun on its scheduled Thursday earnings report. The computer company's shares climbed as much as 10 percent.

Peter Misek, technology analyst at Canaccord Adams, weighed in on International Business Machines -- and offered CNBC his investment insights for other tech stocks.

The IBM report was "a big surprise to us," said Misek. "On the surface, it looked really, really good."

He praised IBM for "some operational improvements," such as tighter cost controls and "fixed up" pensions.

The hardware and software firm cited emerging markets, Europe and Asia as strong sales drivers. Misek pointed to weakness in the U.S. dollar as another lift to profit: "Six percentage points of 10 percentage points of year-over-year growth is [attributable to] currency," he said.


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He said certain Internet-based tech stocks like Google and Yahoo were not likely to enjoy the same global-growth benefits -- like dollar weakness -- as IBM.

However, Misek said he would point investors to Microsoft, which he believes will benefit both from the emerging-market boom and forex imbalances.