Technology Is in a 'Leadership Mode,' Says NYSE Trader
Tim Anderson, managing director at TJM investments, is keeping an eye on the tech space.
"You know, technology has actually been in a leadership mode this week.
I certainly think that a part of that is due to increased Capex spending that a lot of companies are going through different stages of right now.
And a lot of it will do to, if we get a resolution of the China trade negotiations, clearly there is a lot of chip manufacturing activity in the Asian region region and that would lift some of the uncertainty that surrounded those stocks probably for at least the second half of last year," said Anderson.
Real Money stock of the day, Broadcom AVGO released earnings that impressed investors Thursday night.
"...Looking to [the second half of the year], we are confident the Semiconductor business will resume very meaningful growth," CEO Hock Tan said on the earnings call late Thursday.
"Overall, we were impressed with the company's execution across the board, as it was able to maintain its full-year guidance in a difficult environment," Piper Jaffray analyst Harsh Kumar said.
"We tend to believe the full-year guidance is rather conservative, as there are multiple growth drivers and margin levers still in its arsenal as we progress through the second half of the year.
We believe the company's diversified revenue model will continue to show its benefits." Related.
Broadcom Shoots to All-Time High as Analysts Increase Bullishness