Last week, I highlighted Adtran and explained why it’s in my latest report as one of the ten best tech stocks to own for 2012. The company reported strong fundamental earnings and gave strong guidance for next quarter in this mornings report. The analysts are already out touting the report and chasing the stock and moving their numbers higher. The stock’s up nearly 7% this morning and it’s now up nearly 10% since I published that blog last week.
(You can get my 10 Best Tech Stocks for 2012 report for $10 by clicking here or you can get it for free by signing up for Marketwatch’s Revolution Investing portfolio, by clicking here, by the way.)
It’s a pretty big day for my portfolio with earnings from Google GOOG and F5 Networks FFIV and PNC Financial Services PNC all reporting earnings. PNC, one of our recent shorts, is down 4% this morning after an ugly earnings report. I’m about break even on that short right now and I’m likely to buy some puts in that name if it continues to break down from here. Let you know in coming days if and when I do.
I think there’ still a lot of upside in Adtran ADTN, as well as in the other tech stocks I’ve been highlighting for you guys here and in my report. Nuance, the other stock I highlighted for you from the report, is up nearly 30% in a straight line in the last few weeks. Easy does it and I wouldn’t just blindly chase these names higher. But the strategy of finding the very best tech stocks on the planet that are driving their own revolutions and creating new marketplaces has been and will likely continue to be a great way for outperforming the broader markets.
And don’t forget about Google’s earnings tonight. I’ve been all over that one too and I continue to like Google, especially for the long-term. Yup, I’m not shying away from my Google at $2,000 by 2020 price target. Tonight’s report and tomorrow’s action won’t change that.
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