'Trading Nation' Traders Share Their Tech Picks
Michael Binger of Gradient Investments said on CNBC's "Trading Nation" he likes Alibaba Group Holding Ltd - ADR (NYSE: BABA) and Cisco Systems, Inc. (NASDAQ: CSCO) in the tech sector.
Binger sees the weakness in Alibaba as an opportunity because it has a price-to-earnings ratio of 20, with a 20% growth, which he finds pretty rare. Cisco had a good quarter, which is a big change in narrative, said Binger. He's encouraged because the management said enterprise customers are spending again.
Matt Maley of Miller Tabak is a buyer of Micron Technology, Inc. (NASDAQ: MU). It broke out to its all-time high and it's still acting very well, said Maley. He thinks it should continue to do so going forward.
He also likes Seagate Technology PLC (NASDAQ: STX). It underperformed for some time, while the mega-cap names were outperforming. It has recently made a higher low, followed by a higher high and that should lead to a new rally, believes Maley.
See more from Benzinga
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
