Looking ahead to the New Year, Michael Lippert, portfolio manager of the Baron iOpportunity Fund, said his four-star fund will continue to invest in technology stocks that offer innovation, information and invention over the longterm. (See some of Lippert's favorite stocks, below)
He plans to invest heavily in smartphones, and predicts their total sales will rise from 150 million to 550 million in the next three to four years, he said.
"We're seeing incredible growth [in smartphones], and that is just starting now," Lippert said.
He is particularly bullish on tower companies, saying providers like AT&T and Verizon will need to invest heavily in cell towers as more phones are issued.
"There's insatiable demand for bandwidth, as people use these devices more and more," he said.
Lippert Likes:
Apple
Research in Motion — His fund owns RIM stock, but he doesn't think the company has as much consumer appeal as Apple.
SBA Communications
American Tower
WebMD — The Internet site's advertising business grew 20 percent during the recession.
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Disclosures:
Disclosure information was not available for Lippert or his company.
