Take this FWIW....their advice is to get "very agressive" AFTER a large runup:
SG Cowen's top hi-tech stock picks for 2004
Silicon Strategies
01/09/2004, 5:00 PM ET
NEW YORK--SG Cowen Securities Corp. this week released its top--or "strong-buy" rated--hi-techs stocks for 2004, with the chip and IC-equipment sectors leading the way.
"After rebounding in 2003, tech fundamentals should improve further in 2004," according to SG Cowen, an investment banking firm in New York. "Strongest acceleration will likely come in semiconductors and semi cap equipment, and we recommend getting more aggressive here," according to the report.
"In contrast, growth in corporate IT and consumer markets should improve but remain modest, requiring focus on high-growth segments and market leaders," it added.
In the semiconductor and chip-equipment sectors, the "strong-buy rated" or top picks by the New York-based investment banking firm are Agilent, Analog Devices, Applied Materials, Cypress, Integrated Device Technology, KLA-Tencor, National Semiconductor, Synopsys, and Texas Instruments.
Like the chip and IC-equipment sectors, the top IT stock picks emphasize market leaders with competitive advantage and share momentum, many of which didn't run with the market in 2003. Top IT stock picks include Cisco, Dell, Hewlett-Packard, IBM, Microsoft, and Veritas.
Within the corporate and consumer markets, SG Cowen also makes some recommendations: Affiliated Computer Systems, Computer Associates, Ceridian, Cognos, Cray, Digital Theater Systems, Foundry, Hyperion, Intervideo, Lexar, Microvision, Netscreen, Research in Motion, and Xerox. |
