Why Tech Works

 | Jan 21, 2014 | 2:06 PM EST  | Comments
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Stock quotes in this article:

vz

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intc

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gild

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biib

Tech keeps working. It is working because people are recognizing that the PC isn't over and that you aren't as leveraged to the consumer with tech as you would be with so many of the housing-related plays or with retail in general.

People are also recognizing that Europe is a big buyer of tech and it hasn't slowed.

Most importantly, the Verizon (VZ) news of increased capex fits entirely with the rebirth of telco equipment spending.

Please do not forget how far behind tech is from the market itself, even after this very big move. The Nasdaq's outperformance isn't just biotech this year, although two of my four horsemen of the Big Pharma Apocalypse that I write about in "Get Rich Carefully," Gilead (GILD) and Biogen Idec (BIIB), remain huge outperformers.

The only fly in the ointment is Intel (INTC) and I remain a believer that this year, with its now-very-lowered expectations, is going to prove rewarding for the long-suffering shareholders.

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