Tech Stocks are about to sold by the Wall Street and Conn. crowd. A plethora of upgrades by the Wall Cheat analysts will more than likely result in the blind, underperforming mutual funds buying positions in tech. TECH is cyclical and the US economy is heading South and at best, heading East(ie flatlining). What the BRICs buy in terms of tech is up for discussion, but tech spending in the BRIC nations is not close to tech spending in Europe and North America.
Tech is cyclical, not secular. Tech is cyclical repeat and repeat again. As Don Coxe states-INTC sold at 11X earnings in 1994, before it morphed into a hyper growth stock to trade at 50+X peak earnings. It will trade at 11X earnings again. same with the rest of tech.
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