Technology Stocks : The New QUALCOMM - Coming Into Buy Range
QCOM 58.91+1.0%Jul 17 5:20 PM EDTNews

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To: John Hayman who wrote (8945)11/13/2017 5:10:48 PM
From: Art Bechhoefer1 Recommendation

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Shares of most tech stocks, with Qualcomm being a major exception, are getting pretty high. Though I have concentrated most of my holdings in tech and biotech, I see very little in either sector at present prices that impress me. On the other hand, I see some vulnerability, especially in Apple, not just because of the lawsuits involving Qualcomm but because of a gradual loss of market share in China, the world's largest market for smartphones. If AAPL shares begin to drop, they will cause other shares in major indexes to drop as well, because of the weight given to AAPL.

Among the biotechs, I like Ionis Pharmaceuticals (IONS), but I'm not a buyer at its present price. Same goes for Fibrogen (FGEN), which had a recent run up on news of progress in two drugs. Gilead Sciences (GILD) has lost most of the momentum gained after it bought Kite Pharma, but at its present price is interesting only for long term appreciation.

In short, I see little reason to expect stocks in general, and in particular, the technology sector to move up significantly in the coming year. As a safety measure, in cases where I believe a certain stock has reached a plateau, I'm looking to sell covered call options or sell outright, especially if the intended sale occurs in 2018.

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