CNBC's "Fast Money"
The Old Tech Stocks Learning New Tricks, and the Stock That’s Been a “Terrible Embarrassment” For One Trader 9/1/23
Sep 1, 2023
Shares of Dell, IBM, and Cisco are surging, driving the strength in legacy tech names. The traders discuss the recent moves in tech stocks, valuations, and potential growth opportunities. They also analyze the decline in Walgreens stock and the frustration of traders. Additionally, they touch on the struggles of a specific stock due to the pandemic and CEO resignations in Walgreens.
22:47
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Quick takeaways
- Legacy tech stocks like Dell, IBM, and Cisco are experiencing significant gains due to their reasonable valuations and advancements in areas like software and AI.
- Investors are optimistic about the trajectory of oil prices, leading to a recovery in energy stocks, but opinions differ on whether to invest in the commodity or energy equities.
Deep dives
Old-school tech stocks showing strength in the market
Shares of Dell, Intel, Cisco, and IBM have seen significant gains this week, with valuations being a key factor. These companies have figured out their valuations and are making strides in areas such as software and AI. The market is recognizing the potential in these elder statesmen of the tech world, who offer a mix of AI technology and reasonable valuations.
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