Some technology bellwethers’ higher second-quarter profits are not being reflected in their stock prices, but investors shouldn’t be discouraged, according to Kennard Allen, portfolio manager of the T. Rowe Price Science & Technology Fund.
“I’ve actually been encouraged by the results that have come out,” Allen told CNBC.
Tech earnings have been mixed this quarter, but that doesn't mean the tech industry isn't moving in the right direction, he said.
"I think there is a lot more positive going on in the tech industry right now than has been reflected in many of the stock prices," Allen said.
Allen's Top Tech Stock Picks:
CNBC Data Pages:
Disclosure information was not available forAllen or his company.