That means the ability to buy so many companies that are overseas-oriented: Intel (INTC), Microsoft (MSFT), Cisco (CSCO), Johnson & Johnson (JNJ), Caterpillar (CAT), 3M (MMM), United Tech (UTX), Boeing (BA), Hewlett-Packard (HPQ), McDonald's (MCD), Alcoa (AA), IBM (IBM), Procter (PG), Coke (KO), Merck (MRK) and Pfizer (PFE), just to give you the Dow stocks that are weighted perfectly for the overseas turn.

Except for Mark Hurd and Hewlett-Packard (HPQ), because Hurd wants to have a soup-to-nuts company -- or as John Chambers would say, and end-to-end suite of products for just about every company that needs tech, including telco tech

Microsoft can mean good things for everything from Intel (INTC) and SanDisk (SNDK) to Seagate (STX), Western Digital (WDC) and Micron (MU). It can, of course, lead to good demand for Dell (DELL) and Hewlett-Packard (HPQ). The leadership capabilities of Microsoft cannot and never can be underestimated.

great products. almost no competition.

It is true that M&A won't be the only influence on tech stocks in 2010. Allianz's Price not only likes storage and networking stocks, but is also bullish on HP, Intel and Microsoft, which could benefit from a slight uptick in corporate tech spending. "Expectations are very low for these companies," Price says. "I'm not going to say that Microsoft is going to be a growth company over the next five years, but they are going to surprise people over the next year."

Tech stocks are about as sexy as it gets, especially when the market’s revving back up. And mutual-fund managers can’t help themselves when this sector starts to turn. “For that reason alone, you need a tech stock as a recovery play,” Cramer says, “a stock like Hewlett-Packard, because you do not want to miss out on the kind of move that heavy mutual-fund buying can create.” That’s not the only reason he likes this stock, though. With both corporate and consumer spending picking up, business should start booming for HP.

Meanwhile a tech cycle from out of nowhere, consisting of smart phones and netbooks is on fire. You can buy companies such as Intel (INTC) and Apple (AAPL), Google (GOOG) and Hewlett-Packard (HPQ). The networkers, led by Cisco (CSCO), seem back in business with a vengeance.

Another tech play Miller likes is Hewlett-Packard (HPQ), trading around 47, also 11 times expected earnings. It has "great free cash flow and a strong balance sheet."

My Laptop

I'd probably go into Hewlett-Packard (HPQ), counsels Guy Adami. The stock looks great technically.

poor management under Carley

advised to pick, find it too slow

The company is great but the dividend in nothing and the price does not fluctuate enough to trade it.

little hope

LOW YEILD

med growth

concerned about holiday sales

Computers keep getting cheaper

didn't make money

From Barron's 5-14-07

"HPQ preannounced slightly better-than-expected earnings and guidance for the quarter....Personal PC systems were the driver. Note: HPQ only squeezed 1 cent more EPS from $1.4 billion more in revenues -- less than 40% of its current net margin. Raising target to 35, but reiterate Sell rating on slowing incremental margins. HPQ prereleased earnings for April quarter...a week early because an internal e-mail with this information was accidentally sent outside the company."