Tech Stocks to keep an eye on during this downturn
My first day back from vacation and the market takes its biggest hit in six years. Some of my high fliers such as Suntech Power (NYSE: STP) and FuelTech (Nasdaq: FTEK) have taken a big time beating. Suntech Power has gotten the worst of it being a Chinese company. What this downturn has done is made some quality stocks cheaper and more attractive. I plan to either buy the following stocks or add to my position in the near future depending on the overall market conditions.
Here’s my list (in no particular order):
- SiRF Technologies (Nasdaq: SIRF): The 5-day chart on this GPS Chipmaker looks pretty ugly. SiRF proved the naysayers (like me) wrong the last earnings release. SiRF’s monopoly in GPS chips is dwindling but the overall market is growing.
- Infosys Technologies (Nasdaq: INFY): I don’t think Infosys needs any introduction. Another stock that has taken a big hit this week.
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* Full Disclosure: I am long STP, FTEK, UA, AMSC. I don’t have positions in BA, HDB, IBN, INFY or SIRF.
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