Watch those tech stocks

Published 9:46 pm Sunday, August 8, 2010

NEW YORK — The choices for those investing in technology are about as numerous as cell phone ring tones — Morningstar tracks five different segments of the semiconductor industry alone.

And that’s something mutual fund investors may want to take note of.

“These stocks have been roaring off the bottom starting in November of last year,” said Robert Turner, chairman and chief investment officer of Turner Investment Partners, based in Berwyn, Pa.

He called the technology sector “pretty positive”, adding that he thought many stocks were undervalued earlier this year.

Noting that many of the companies have cut cuts, he also noted that they are honing their focus on areas “where they can grow”, a move he added should help sustain profitability and expansion.

“They’re not going to spend at the rate that they did over the last couple of years,” he said.