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J.P. Morgan's Thomas Lee notes that several laggards in the first quarters of 2009-12 rebounded...

J.P. Morgan's Thomas Lee notes that several laggards in the first quarters of 2009-12 rebounded in Q2, so he figures select tech stocks look appealing now. Tech's forward P/E ratio is below the market's for the first time in 17 years, Lee says. His most noteworthy call is to buy Apple (AAPL), which slid 16% Q/Q. Some other favorites: BRCM, CHKP, ESRX, MYL, TASR, CHS, F, COF.
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Comments (14)
  • Sirvasq
    , contributor
    Comments (335) | Send Message
     
    Right with you, TL. Excellent vision.
    5 Apr 2013, 06:24 PM Reply Like
  • Voice of common sense
    , contributor
    Comments (121) | Send Message
     
    Isn't his stock picking record highly suspect, like most talking heads?
    5 Apr 2013, 06:54 PM Reply Like
  • chuck lewis
    , contributor
    Comments (429) | Send Message
     
    Hope you are right on Ford. Too much negative research lately. Hope the shorts get their fingers caught in the door.
    5 Apr 2013, 07:04 PM Reply Like
  • DJS1843
    , contributor
    Comments (32) | Send Message
     
    Everything I've read about Ford is positive, except it's stock. Why does Ford stock look like a "dog" for the past year and going forward?.................
    5 Apr 2013, 08:58 PM Reply Like
  • bgold1955
    , contributor
    Comments (2267) | Send Message
     
    Wow. Got 4 of em. Was wondering why I had a lousy quarter.
    6 Apr 2013, 07:53 AM Reply Like
  • jbmistry
    , contributor
    Comments (3) | Send Message
     
    Ford, the company, is firing on all cylinders, making excellent products and gaining market share. Ford, the stock, is broken and doesn't reflect the underlying strength of the company. Important to make this distinction. Ford stock has a lot of catching up to do, and will do so eventually.
    6 Apr 2013, 08:30 AM Reply Like
  • redarrow5150
    , contributor
    Comments (1149) | Send Message
     
    Ok that makes no sense or dollars. Is FIRING on all cyclinders and gaining market share but the price is stagnant? It's taking on water in Europe and has been for quite a while.
    6 Apr 2013, 06:09 PM Reply Like
  • timk3579
    , contributor
    Comments (2) | Send Message
     
    They had every opportunity to tear apple apart this week with goldman taking it off the conviction buy list and the early market sell off today. Apple retested the recent intraday low of 419 and held support. Could a bottom be in place?...
    6 Apr 2013, 09:58 AM Reply Like
  • f16flyer1983
    , contributor
    Comments (167) | Send Message
     
    I'm very pro AAPL but be prepared for a dip below 400 as the next conference call will be negative and with negative sentiment being spilled by all the business channels it will go lower.

     

    The sliver lining is that AAPL is in the best financial shape of any company on planet earth and one of the strongest brands so those who are patient with this stock will be rewarded as a P/E of 16 and a price of $1,000 is about 9 months down the road.
    6 Apr 2013, 11:28 PM Reply Like
  • acsatix
    , contributor
    Comments (121) | Send Message
     
    I think P/E will depend on new products introduction and their expected margins and volumes... but there is no doubt to my mind the brand position of apple is now there to stay and nokia by comparison was never able to permeate so many aspects of one's life like apple... and we are just at the beginning I would say as they have yet to start to meaningfully put to work the ecosystem they have created.
    7 Apr 2013, 08:41 AM Reply Like
  • sws1967
    , contributor
    Comments (108) | Send Message
     
    Yes, AAPL has now put in a bottom and is safe to buy right now. Unless I'm wrong of course, in which case it may continue to make new lows, and I'll need to look for another chance to call the bottom;).

     

    I bought more AAPL when it bottomed in the $500s and the wave theory experts, and DeMark, and all the other gurus had assured it was time to buy. Although I seriously don't think there's much downside beyond $360 (assuming April ER doesn't impress), I think it will take a new innovative product to move the stock past $470, otherwise people will take every opportunity to bail out on any strength.

     

    So, unless you are speculating, I'd wait and see what happens this quarter. The stock is absolutely broken and it may take longer to return to sanity than at least I can stay solvent. We all expect Apple to return to greatness, and someday AAPL should follow, but the facts available now don't show when or how IMO.
    8 Apr 2013, 01:01 AM Reply Like
  • redarrow5150
    , contributor
    Comments (1149) | Send Message
     
    I wouldn't jump in just yet as a gap in the $382 ish area still unfilled. When it filled in the $425 gap a while back it got my attention but the charts still look like it wants to head lower.
    8 Apr 2013, 08:18 AM Reply Like
  • JUDOKA
    , contributor
    Comments (406) | Send Message
     
    Ballsy,very ballsy.
    6 Apr 2013, 11:57 AM Reply Like
  • Bigeye13
    , contributor
    Comments (10) | Send Message
     
    Aapl/esrx/f would seem to give a diverse (tech/health/mfg) set, which has long run (1 or 2 year) attractiveness
    8 Apr 2013, 06:47 AM Reply Like
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