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Fast Money

Stick with Tops in Tech: Terranova

Technology landed on the Fast Money trader radar, with the sector looking like it will be among the S&P’s best performing when Q1 draws to a close on Friday.

And the winners in this space have been big winners. Take a look:

Q1 Top Performers
Apple (AAPL) +53%
Salesforce.com (CRM) + 52%
Advanced Micro (AMD) +52%
LSI Corp (LSI) +45%
JDS Uniphase (JDSU) +42%
Teradata (TDC) +41%

Is this a case of stick with what’s working or book profits while you have them?

Looking at the names mentioned above, top trader Joe Terranova recommends holding onto to them. “Tech is performing well,” he says; and Terranova sees no reason for that to change.

At the heart of Terranova’s thesis is a belief that rather than hire new employees, companies will spend more on technology in an effort to boost efficiency and as a result growth.

“That’s one of my favorite themes in the market,” he adds. And Terranova tells us, he expects the next spate of earnings to confirm his thesis.

*There is one caveat. Terranova is somewhat skeptical of AMD. “The stock has been trading well, but fundamentally I don’t think they’re best in the space.”

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Symbol
Price
  
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%Change
VOW3
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SUPREMETEX
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CRM
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VIAV
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LSI
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TDC
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What do you think? We want to know!




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Trader disclosure: On Mar 28, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Joe Terranova is long VRTS; Joe Terranova is long NXPI; Joe Terranova is long IBM; Joe Terranova is long MCD; Joe Terranova is long EMD; Joe Terranova is long MSFT; Joe Terranova is long JOY; Joe Terranova is long OXY; Joe Terranova is long LQD; Joe Terranova is long HIBB; Joe Terranova is long TBT; Brian Kelly is long XLF; Brian Kelly is long KRE; Brian Kelly is long MS; Brian Kelly is long SPY; Brian Kelly is long QQQ; Brian Kelly is short COPPER; Brian Kelly is short EUROSTOXX; Brian Kelly is short AUSSIE$; Brian Stutland is long AAPL; Brian Stutland is long C; Brian Stutland is long GS; Brian Stutland is long JPM; Brian Stutland is long WFC; Brian Stutland is long MS; Brian Stutland is long NFLX; Brian Stutland is long TLT; Brian Stutland is long INTC; Brian Stutland is long HFC; Brian Stutland is long VLO; Steve Cortes is long GOOG; Steve Cortes is long TREASURIES; Steve Cortes is short CAT; Steve Cortes is short AAPL; Steve Cortes is short LVS; Steve Cortes is short XLI; Steve Cortes is short SILVER

For Brian Stutland
Market Maker Holding Hedged Positions in VIX futures and options

For Brian Modoff
Deutsche Bank (and/or affiliates) owns 1% or more of any class of common equity securities of QCOM
Deutsche Bank and/or its affiliate(s) has received non-investment banking related compensation from QCOM
QCOM has been a client of Deutsche Bank Securities Inc. within the past year, during which time it received non-investment banking securities-related services

For Dick Bove
Rochdale Securities LLC ("Rochdale") is an institutional brokerage firm that does not make a market in equity securities and does not engage in investment banking. Rochdale and its affiliates, including its principals, may own securities of the companies which are subject of this report but do not own 1% or more of any class of common equity securities of any subject company.

For Mindy Grossman
No disclosures

CNBC.com with wires.

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Symbol
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Change
%Change
AMD
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XLK
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