The rules for investing in technology have changed as much as the markets themselves. Mike Burnick, director of research at Weiss Capital management, and Kim Caughey, portfolio manager at Fort Pitt Capital Group, offered CNBC their tech stock picks — and pans.
Caughey said she generally agrees with Burnick on the dangers of weak consumer spending, but where he favors traditional blue chips, she "takes it in the other direction": Software.
(See Part 1 for Burnick's picks and pans)
"We really like software, because it's a service," she explains. Software firms "get incremental payments, rather than big chunks upfront." And she says software providers are somewhat cushioned against a slowdown: "The only thing that gives you more productivity is technology."