Trading tech: 5 stocks to buy – CNBC.com
Trading tech: 5 stocks to buy
The “Fast Money” traders give you their 5 trades in the tech sector.
With Apple reportedly set to offer a new bond, an event that’s previously led to stock gains of more than 19 percent, “Fast Money” trader Guy Adami said now is the right time to buy Apple.
“The genius of Apple is they make people feel like they’re compelled to own their product,” said Adami, chief market strategist at Private Advisor Group. “Everybody makes a cool phone, everybody makes the little tablets now, and they’re all pretty much the same except there’s still a cache associated with Apple.”
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Adami added, “If you just believe in the pattern recognition that I’ve looked at, then the next leg to me is up to $150 [a share].”
“Fast Money” trader Dan Nathan, co-founder of RiskReversal, said he thinks investors should purchase Apple around $110 a share. “I think there’s a floor, and they will always buy stock aggressively,” he said.
Fast Money trader Tim Seymour said he sees Tesla as a great energy and technology play. “It’s not about the incentives, but it really is about what’s going on with the whole utility business,” Seymour said, adding that the company’s stationary storage ventures will be key.
When it comes to trading Juniper Networks, which fell 3 percent on Monday, Nathan said it’s still a buy as “you probably have a pretty long entry in that gap somewhere below $27.”
The traders also see GoPro and Pandora as potential buys.
Pandora fell 1 percent on Monday, but Seymour said the drop “is almost an affirmation that things are getting better there.” He pointed to its local business as a potential catalyst.
On the other hand, GoPro shares rallied about 6 percent Monday after it announced its latest camera. “It feels to me like it’s got its mojo back,” Seymour said. “For this stock, I think there’s still tailwinds…”
Disclosures:
Tim Seymour
TimSeymour is long AAPL, T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, SUNE, Tim’s firmis long BABA, BIDU, FCX, MCD, NKE, NOK, SBUX, SINA, WB, YHOO.
Dan Nathan
Dan is long GOOGL June call fly,TWTR, BBRY June calls, TLT June call butterfly, SO, DE June put fly, INTC Julyput spread, SPY June put fly, LNKD July call fly, LVS July Aug put spread, heis short SO Aug calls. Today Dan bought LNKD July call fly and LVS July Aug putspread.
Karen Finerman
Karen is long BABA, BAC, C, FINL,FL, GOOG, GOOGL, JPM, KORS, LPG, M, SEDG, she is short SPY, Her firm is longANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, LPG,M, MU,SUNE, URI, XBI, KORS call spreads, SPY puts, her firm is short IWM, SPY,MDY, M calls, Karen Finerman is on the board of GrafTech International.
Guy Adami
Guy Adami is long CELG, EXAS, INTC, Guy Adami’s wife, LindaSnow, works at Merck.
Originally posted here –
Trading tech: 5 stocks to buy – CNBC.com
