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They may be popular with investors, but if you’re a tech investor UBS says you won’t find gains with these two widely held stocks.
They are Hewlett Packard and Dell. Hewlett PackardAnalyst Steve Milunovich says stay away from HP because "they have too much of an identity crisis. They’re trying to be both a consumer and corporate computer company.” And that he says is a problem.
Also he thinks the decision by CEO Meg Whitman to not spin-off the PC business will drag down the bottom line. “Those assets are declining in value. It’s a great business but it’s peaked. It will come under pressure from tablet competitors going forward.”And even though the stock is down 26% ytd he thinks it goes even lower. “We think there are a couple more points to the downside,” he says.
Trader Brian Kelly doesn’t agree. “If you want a cheap stock, I’d look at this name. In fact, if you think Meg Whitman can turn around the company – it's not a bad place to get in.”
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