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Barron's: 10 Tech Stocks Left Behind by Market Rally

Barron's: 10 Tech Stocks Left Behind by Market Rally

By    |   Friday, 19 June 2020 09:08 AM

Technology shares have been one of the few bright spots in U.S. equity markets as worrying increases in coronavirus cases have whipsawed investors and the stock market.

Bargain-priced tech is hard to find after the Nasdaq Composite index crossed the 10,000 level for the first time, while Apple and Microsoft reached the $1.5 trillion market value level, the first two stocks to ever hit that mark.

As a result, Barron's launched a search for some possible bargains in the tech word.

The 10 stocks below aren’t necessarily a shopping list, but they do suggest that all isn’t lost for value-oriented tech investors.

These 10 tech stocks have been neglected by Wall Street, even though they’re still growing.

  1. Dell Technologies (DELL)
  2. ON Semiconductor (ON)
  3. Micron Technology (MU)
  4. MKS Instruments (MKSI)
  5. Zebra Technologies (ZBRA)
  6. Lumentum Holdings (LITE)
  7. Intel (INTC)
  8. Cerner (CERN)
  9. Amphenol Corporation  (APH)
  10. Rockwell Automation (ROK)

Meanwhile, investment guru Byron Wien urged savvy investors to focus on distressed areas of the market, while shedding tech stocks whose valuations have become stretched.

“My view is you should step in and buy in this market, but you should shop in the distressed areas: energy, hospitality, airlines and housing,” the vice chairman of Blackstone Private Wealth Solutions Group said on CNBC.

“Those areas I think are attractive. You should be buying the beaten-down stocks, not the favorites that are selling at all-time highs.”

Wien has traditionally been a growth stock investor, CNBC explained, but Wien said that valuations of some of the largest tech companies, including Facebook, Alphabet, Netflix, Apple and Amazon have become too rich.

“I think those valuations are very full, and so therefore I’m shopping among some of the distressed sectors,” he said.

However, it just may pay off to make your own picks and ignore the gurus, Bloomberg reported.

Stocks preferred by retail investors are handily beating those liked by hedge funds and mutual funds, according to Goldman Sachs Group Inc.

A portfolio of stocks popular among individuals has surged by 61% since the bear market trough compared with a gain of 45% for both hedge fund and mutual fund favorites and a 36% rise in the S&P 500 Index, strategists led by David Kostin wrote in a note June 12. And investors should consider value shares, they said.

“The narrative of Main Street weakness versus Wall Street asset inflation is misleading,” the strategists said. “The surge in retail trading activity has amplified the market rotation toward cyclicals and value stocks.”

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These 10 tech stocks have been neglected by Wall Street, even though they’re still growing.
tech, stocks, market, rally
Friday, 19 June 2020 09:08 AM
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