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Tech Sector Wreck Ahead?

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    Keith Fitz-Gerald of Money Map Press on the recent pullback in tech stocks.

  • Duration 2:55
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-- -- -- The NASDAQ -- world tech stocks -- it was almost half a most of the year until late last week.

That rally has largely gone and joining the company announced Keith FitzGerald improvement in the press he's the chairman of the FitzGerald group case.

I think I'm right in saying that the steam went right out of that tech rally.

Any reason why.

You know I think had this tech news occurred any other time absent news out of Europe we've had a very different situation I think people are simply reading into Europe.

What really doesn't apply in fact the sales actually are just fine companies are expanding capital expenditure efficiency gains those are all they're not great.

But they're not the whole that everybody thinks they are I think it's just simply people being skittish and reading it's information and it's not there.

Have they become ordinary economic indicators I give -- the case of Cisco.

It says look into the future things are not so -- suggesting that maybe the global economy the American economy.

Not so hot so has the tech group become just another economic indicator.

Well I don't know -- The -- group but I think your point about Cisco is is very very astute Stewart and I think that chambers knows what he's doing.

He's doing two things really he's saying hey look Europe may not be what we think it is there may still be trouble.

But he's doing what any Smart CEO would be doing in his position which is managing expectations.

If he's setting the bar low and it's very hard to miss that in the future.

Full disclosure do you own Cisco.

I do not own Cisco name what do think about John Chambers who you just mentioned.

Holding a fund -- in his own home for Barbara Boxer.

Well you know I tell -- I don't know a lot about that situation but I don't know owned Cisco for reason because I don't generally favor the tech stocks at the moment so I can't comment on what he's doing on a personal basis that's interest ya bit like Warren Buffett.

Lauren doesn't wanna know about -- -- never has probably never will.

Are you in the -- -- No I think there's a role for tac in the portfolio particularly if it's medical -- -- attack those are things that the world is gonna need.

But big tech is very hard to figure out right now we're the world of transitioning into a mobile tablet driven environment and it's not clear who the winners are but.

One thing is for certain is that many of the old style -- or having the game's changed on them I think Cisco will survive.

But do I think it's a source of big profits going through about that I have my doubts -- -- -- -- -- moves just so fast as you go from yes -- to laptops out of mobile computing.

And heaven knows what else I mean I can't keep up with that I don't think we've really decided who the -- -- -- how the winners are gonna make money out of what's going -- I think up about wraps it up.

I think it does very well actually.

All right but then -- shall end it at cases Jerrold thank you very much indeed that is it is not raining there in Portland Oregon in the background thanks case we'll see against sort of talk.

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