One of the world's largest companies Apple has carried the tech sector higher this year.<\/p>\n
The iPhone maker has rallied nearly 45% in 2020 and set another record high as recently as Friday, a day after a blowout earnings report.<\/p>\n
But, Apple isn't the only way to play strength in the sector, according to long-time tech investor Paul Meeks who manages the Wireless Fund.<\/p>\n
\"Probably my favorite ideas, not necessarily in the near term because I can't predict the near term but over the next couple of years, are two semiconductor-related names,\" Meeks told CNBC's \"Trading Nation\" on Friday.<\/p>\n
His first pick is Micron Technology, a chipmaker that has lagged a broad rally among the semiconductor stocks this year.<\/p>\n
\"I think they will double their stock price over the next two or three years, whereas some of the marquee tech stocks I think will continue to outperform but they can't double from here,\" said Meeks.<\/p>\n
Micron is down 7% in 2020, while the SMH semiconductor ETF has gained 18%.<\/p>\n
\"Then the other one that I like is semiconductor capital equipment manufacturer ASM Lithography. Those two are probably my favorite ideas for tech over the next couple of years,\" he said.<\/p>\n
While those are his top ideas, he says any tech investor should at least be exposed to some of the market's biggest companies including Apple, Facebook and Amazon.<\/p>\n
\"We're in a tech world and everything else is just revolving around us in the periphery,\" said Meeks. \"Perhaps you don't like those valuations, there's some that I don't like at any particular time. But, these all are stocks that are probably over time, if you're a serious tech investor, must haves.\"<\/p>\n
Disclosure: WIREX holds Micron, Apple, Facebook and Amazon.<\/p>\n
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Two chipmakers are the best bet on future tech growth, long-time tech investor Paul Meeks says - CNBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" One of the world's largest companies Apple has carried the tech sector higher this year. The iPhone maker has rallied nearly 45% in 2020 and set another record high as recently as Friday, a day after a blowout earnings report Continue reading