Tech stocks today helped lower the Dow Jones - but a couple of them are still "Buys."
The Dow tumbled 283.1 points, or 1.6%, from yesterday's close. The tech sector fell 3% by late afternoon. Microsoft Corp. (Nasdaq: MSFT) alone dropped 9.4% from yesterday's close.
Money Morning Defense & Tech Specialist Michael A. Robinson told viewers on FOX Business' "Varney & Co." that MSFT stock is still a long-term buy. Microsoft, he said, is shifting focus to cloud computing, which is on its way to becoming a $270 billion market.
"This is a company that's in transition as they move from standard software sales to the cloud, so there's going to be some bumpy periods," Robinson said.
Robinson also has another winner, plus a stock that shouldn't be touched...
To see Robinson's rundown of tech stocks today (and one construction stock), check out his appearance below:
Microsoft isn't the only company seizing a new opportunity... another giant is moving production to a country with a budding tech industry. Here's how this chip maker's new move will pay off huge...