Tags: Morris | tech | nuts | 2015

HSBC's Morris: Tech Stocks 'Could Go Nuts' in 2015

By    |   Sunday, 07 December 2014 04:46 PM

Technology stocks have enjoyed success this year, with the S&P 500 Technology Index returning 19.9 percent, compared to 12.1 percent for the S&P 500 overall.

And you ain't seen nothing yet, says Charlie Morris, head of absolute return for HSBC Global Asset Management. "Tech could go nuts in 2015, as real rates normalize," he told CNBC.

Near record-low interest rates have sparked a search for yield by investors, but that's going to change as rates rise, Morris says.

"There is a long way to go here" for tech stocks, he said. "People have been chasing . . . dividend stocks, corporate bonds and so on. That's the wrong place to be. The right place to be is in growth, and you know U.S. large-cap growth is the theme."

Some have argued that tech stocks are overvalued, but Morris doesn't buy it.

"I think that that idea that the tech is a bubble is wrong. It is actually making a lot of money, a lot of these companies are very, very profitable and it will continue to go higher next year," he said.

UBS recently put together a list of top tech stocks for 2015. The list was obtained by 24/7 Wall St. and includes:
  • Cornerstone OnDemand (Ticker: CSOD). It provides talent management on the cloud through recruiting, learning, performance and outreach.
  • FireEye (FEYE) offers software security.
  • Microsoft (MSFT).
  • ServiceNow (NOW) is an enterprise software company.
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"Tech could go nuts in 2015, as real rates normalize," declares Charlie Morris, head of absolute return for HSBC Global Asset Management.
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2014-46-07
Sunday, 07 December 2014 04:46 PM
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