Despite a 7 percent rally in the first quarter, the tech sector “still looks very strong,” according to Dan Morgan, vice president and portfolio manager of Synovus Securities.
“We’ve had some tremendous earnings reports last week—Intel and IBM reports were very good and that kicked things off. And stocks have moved up in response to that,” Morgan told CNBC.
Morgan noted that the tech sector has been improving since the first quarter of 2009.
He also expects strong earnings results from tech giants Microsoft and Amazon.com later this week.
Among large-caps, Morgan has Cisco and Apple on his “buy” list.
(Listen to what Morgan's fellow investment strategist, Christopher Mutascio, managing director of Stifel Nicolaus, has to say about kick-starting the banking sector.)
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Scorecard—What He Said:
- Morgan's Previous Appearance on CNBC (Apr. 19, 2011)
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CNBC Slideshows:
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Disclosures:
Morgan and his firm own shares of IBM and APPL. Morgan’s firm also owns shares of INTC, GOOG and NOK.
No immediate information was available for Mutascio or his firm.
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