Analyst: This stock jump may also sign a comeback for tech within the near future

A technician inspects a silicon wafer at the Applied Materials Maydan Technology Center in Santa Clara, California.

The technology sector has taken its proportion of hits this yr, having fallen 2 percentage, butimplemented substances‘ stellar trading day may also sign a pending reversal in fortunes for the wholespace, said Daniel Morgan, a Synovus trust portfolio manager, on Friday.

“Semiconductor gadget is a preliminary … in terms of orders,” he advised CNBC’s “Squawk Alley.” “with a bit of luck, there is some momentum in the back of this, and we will start to get some traction.”
applied substances popped almost 13 percentage Friday on the heels of higher-than-expected earningsand tracked for its high-quality trading day on account that 2008.

US semiconductor large implemented materials CEO Gary Dickerson
implemented substances β€˜is returned and larger than ever,’ Jim Cramer says
The inventory was also the biggest advancer amongst S&P 500 tech shares.

“The motive AMAT had the sort of properly quarter is due to the fact you are starting to see the builds for the iPhone eight for subsequent yr on the [organic light-emitting diodes] facet. I suppose that could be a effective for the entire tech sector, if Apple starts to get wholesome once more,” said Walter fee, Allianzworldwide investors portfolio supervisor, within the same interview.
Apple stocks won greater than 1 percent Friday.