Fred Hickey Believes Apple is Attractive After its 100 Point Drop

By on October 28, 2012

Fred Hickey - High Tech StrategistFred Hickey, editor of the High-Tech Strategist newsletter, was interviewed by Barron’s columnist Kopin Tan regarding his outlook for the technology sector and gold. Hickey said earnings have been poor largely due to reduced enterprise investment related to the worldwide slowdown engulfing Europe, China, and now in the United States. IBM talked about business declining in Mexico, Australia, and Brazil, so it appears to be across the board, Hickey added.

The PC market is terrible with double digit declines year over year in PC unit sales, partly due to the economy and partly due to the release of Windows 8, Hickey said. Semiconductors and servers are expected to be down year over year, so its really tough, he added, and he expects a rebound soon with the worst of the earnings reports being released last week with Apple being a rallying point at least in the short run.

Hickey said you have to be invested in stocks because of the money printing going on. He doesn’t like cash or bonds. He added you can only have so much gold, which he has quite a bit of.

Regarding Microsoft, Hickey said he’s owned it for years. He sold some MSFT going into this latest earnings release because he knew it be difficult, and it was. He wants to wait and see how Windows 8 is received before making any more decisions on the stock.

The interview continued with Hickey commenting on his outlook for Apple and their products, what will happen if Barack Obama wins the election, and his expectations for gold.

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