Technology stocks are back in focus this week on Wall Street with an earning report due out from Google ( GOOG) today after the close and with Intel's ( INTC) 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 ( RIMM) 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 Sun Microsystems ( JAVA) 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 IBM ( IBM) and Apple ( AAPL).

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?

To read more, visit Stockpickr.com.
Stockpickr is a wholly owned subsidiary of TheStreet.com.

If you liked this article you might like

Why Alex Rodriguez Is Investing in Billionaires Warren Buffett and Jeff Bezos

Former NY Yankees Slugger Alex Rodriguez Reveals One Juicy Investment Tip

Why I Love Apple, Alphabet, Nvidia and These Other Stocks for September

Have Amazon, Google, Apple and Sony Flooded the Smart Speaker Market?