Technology stocks are back in focus this week on Wall Street with an earning report due out from Google (GOOG) - Get Alphabet Inc. Class C Report today after the close and with Intel's (INTC) - Get Intel Corporation (INTC) Report report on Wednesday. Shares of Intel traded lower after the chip bellwether issued a tepid guidance forecast for the second quarter. However, on the company's conference call, CEO Paul Otellini said PC sales had bottomed out and that the industry is returning to normal seasonal patterns.
Is the bottom in the technology sector finally here? There are many reasons to believe it is, with significant moves in the past few weeks by a number of tech names. Thanks to the lowering of estimates due to the weak economy, many companies are able to post betters results and beat lowered expectations. This is a trend that could continue for some time. Earlier this month, shares of
Research In Motion
soared higher after the handset maker reported a strong quarter.
Another sign for a bottom in tech was the big move up in shares of
in March off of takeover rumors. Many Technology stocks have been beaten down to such absurd levels that shares are now attractive to other tech companies that are sitting on piles of cash, such as
Lots of tech stocks have already seen significant price increases, but that doesn't mean the gains are over. As the old saying goes on the Wall Street, the trend is your friend!
If the bullish trend among tech stocks isn't over yet, how should you play it?
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