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March 25, 2008
Tracking Tech's 52-Week Lows
Only two tech companies that I track are within 5% of their 52-week lows: TI and IFX. That is, of course, way up from 30% of the tech pack that were hovering at those levels ten days ago.
Tech has definitely found a bid, which should come as little surprise given that it, not the financials, has been trading at the biggest discount of any industry group to historical multiples.
Update: So much for IFX and TI being at 52-week lows. They're the biggest percentage movers today, up 6.8% and 3.4% respectively.
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