A musician with a chart topping hit recently discussed tech stocks with CNBC's Jim Cramer. This led him to weigh in on what tech stocks could perform in the current market environment. Read that article here. The article states "Cramer called the tech portion of Redfoo’s portfolio 'fantastic,' and agreed having a more conservative dividend stock in the mix was important now that Redfoo is making money." Redfoo's portfolio included stocks like Apple (NASDAQ:AAPL), STMicroelectronics (NYSE:STM), Marvell Technology (NASDAQ:MRVL), Broadcom (BRCM), Google (NASDAQ:GOOG), and AT&T (NYSE:T).
Cramer has been suggesting that tech stocks may hit a seasonal low in the next few weeks, so it makes sense to take a closer look at what tech stocks Cramer might be telling investors to buy in the near future. Cramer believes that the 3rd or 4th week of September is historically the best time to buy tech stocks. Here is a closer look at some of the stocks Cramer seems to like now and could be recommending heavily in September:
Apple Computer, Inc. is a maker of the popular Iphone, Ipad, Mac computer and more. This company appears to be pure genius with Steve Jobs at the helm. This stock is likely to be a great long term investment on any dips. Consumer demand remains strong for almost every product made by Apple, and a correction or recession is not likely to hold this stock back for too long.
Here are some key points for AAPL:
- Current share price: $355.50
- The 52 week range is $235.56 to $404.50
- Earnings estimates for 2011: $27.41 per share
- Earnings estimates for 2012: $32.12 per share
STMicroelectronics is a maker of semiconductors, based in Europe. This stock was trading over $9 just a few weeks ago and appears to be oversold. The PE ratio is trading for less than 10 times earnings and below book value of $9.17.
Here are some key points for STM:
- Current share price: $6.04
- The 52 week range is $6.07 to $13.53
- Earnings estimates for 2011: 68 cents per share
- Earnings estimates for 2012: 87 cents per share
- Annual dividend: 34 cents per share which yields 5.5%
Marvell Technology Group, Inc. makes a variety of technology products including storage, wireless and processors. Marvell recently announced strong earnings and the stock might be close to a bottom. This stock has dropped from about $15 in about 4 weeks to current levels.
Here are some key points for MRVL:
- Current share price: $12.56
- The 52 week range is $11.23 to $22.01
- Earnings estimates for 2011: $1.48 per share
- Earnings estimates for 2012: $1.62 per share
- Annual dividend: none
Broadcom is a leading maker of technology products and software. This stock has come down from recent highs of about $37, as well as the 52 week high around $47. This stock looks like a solid buy on any dips.
Here are some key points for BRCM:
- Current share price: $31.65
- The 52 week range is $29.90 to $47.39
- Earnings estimates for 2011: $2.96 per share
- Earnings estimates for 2012: $3.10 per share
- Annual dividend: 36 cents per share which yields 1.2%
Google, Inc. offers a wide variety of online products and services ranging from advertising online to email, maps, and more. Google has been one of the leading innovators in the Internet sector and that should continue. This stock rose to over $600 after a solid earnings report was released just weeks ago, however, the market correction and a new acquisition by Google has brought the price down. It looks like there is strong support around $480, and I would be a buyer at that level.
Here are some key points for GOOG:
- Current share price: $498.17
- The 52 week range is $447.65 to $642.96
- Earnings estimates for 2011: $35.45
- Earnings estimates for 2012: $42.02
- Annual dividend: none
Data is sourced from Yahoo Finance. No guarantees or representations are made. Hawkinvest is not a registered investment advisor and does not provide specific investment advice. The information is for informational purposes only. You should always consult a financial advisor.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.