4 reasons hardware will drive big tech earnings: Fund manager
July 15, 2024
Last week, big tech saw a bit of a rotation as some names -- like Nvidia (NVDA) -- began to slip from all-time highs. T. Rowe Price Global Technology Fund manager Dominic Rizzo joins Market Domination to discuss how investors can play big tech as some on Wall Street pull back from the sector. "I think hardware is looking strong heading into heading into the prints. We've seen four data points that have been quite positive for the hardware ecosystem. First off, the printed circuit board space, the PCB companies, many of them have pre-announced positively in Asia. And I think that's a great sign for smartphones, PCs, traditional servers, and AI servers. Second, Corning (GLW) had very strong numbers. You look at their optical business. That's what drove the growth and what's driving that is really adoption of AI." says Rizzo. For the other two reasons, Rizzo says there was buzz about the space at a big industry trade show, SEMICON West and what investors heard from Taiwan Semiconductor Manufacturing Company's (TSM) June sales results. Watch the video above to hear what stocks Rizzo currently likes. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino Read More...
Last week, big tech saw a bit of a rotation as some names — like Nvidia (NVDA) — began to slip from all-time highs.
T. Rowe Price Global Technology Fund manager Dominic Rizzo joins Market Domination to discuss how investors can play big tech as some on Wall Street pull back from the sector.
“I think hardware is looking strong heading into heading into the prints. We’ve seen four data points that have been quite positive for the hardware ecosystem. First off, the printed circuit board space, the PCB companies, many of them have pre-announced positively in Asia. And I think that’s a great sign for smartphones, PCs, traditional servers, and AI servers. Second, Corning (GLW) had very strong numbers. You look at their optical business. That’s what drove the growth and what’s driving that is really adoption of AI.” says Rizzo.
For the other two reasons, Rizzo says there was buzz about the space at a big industry trade show, SEMICON West and what investors heard from Taiwan Semiconductor Manufacturing Company’s (TSM) June sales results.
Watch the video above to hear what stocks Rizzo currently likes.
For more expert insight and the latest market action, click here to watch this full episode of Market Domination.
