Technology Stocks See Gains after Deutsche Bank’s Upgrade

January 10, 2012 James Heinsman Hedge Fund News

A Deutsche Bank upgrade recently boosted technology stocks via semiconductor shares. Netflix Inc. shares also jumped, increasing to 13.8% and closing at $98.18, supporting hedge fund manager Whitney Tilson’s statement regarding the company as a top buyout target. Netflix’s stocks rose after the business released its streaming video service in Ireland and the UK.

Ross Seymore, analyst at Deutsche Bank, upgraded the chip sector to overweight this past Monday.

“While fundamentals are likely to remain choppy in early 2012, we expect growth to accelerate as the year progresses,” he said. “After underperforming in 2011, we expect the semi stocks to react positively to this fundamental improvement and therefore outperform the broader market in 2012.”

Netflix was not the only company to hold rising shares. In fact, major chip-making shares climbed dramtically, including Broadcom Corp, Intel Corp, SanDisk Corp and Advanced Micro Devices. Shares of Apple Inc. also reached an all-time high of $427.75. Networking stocks gave those in technology a push as well, including Juniper Networks, who recorded a 5.4% increase, as well as F5 Networks, with 3.5%.

An F5 analyst said “Checks show that the pipeline is solid, which should bode well for March quarter guidance.”

Chip Sector, Deutsche Bank, Netflix, Ross Seymore, Technology Stocks,

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