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Stock picks by the pros
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December 22, 2000: 1:07 p.m. ET
Micron, Analog Devices, AIG, Altera, Merrill Lynch get mentioned
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NEW YORK (CNNfn) - Market strategists reviewed stocks in the semiconductor and financial sectors Friday, recommending companies such as Goldman Sachs.
As the markets gained in midday trading, recent guests on CNNfn commented on the stocks they are buying and why.
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 DAVID WU'S STOCK PICKS:
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MU
ADI
ALTR
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"The stock market usually looks ahead six months, and this is a very volatile stock, and not only is it a volatile stock, it's also in a very volatile industry. And historically, it's -- the best time to buy Micron (MU: Research, Estimates) is when it looks like things are the bleakest. And right now, things can't get much bleaker," said David Wu, semiconductor analyst at ABN AMRO.
"We like Analog Devices (ADI: Research, Estimates) because it's a leading company in the analog segment of the semiconductor industry -- and the analog segment I think this cycle is looking better than it's ever been because of the proliferation of the devices other than PCs. So Analog is riding on that curve. They're the fastest-growing analog company in the last several quarters, and it also has better margin than it ever had in its history, as a public company."
"Altera (ALTR: Research, Estimates) is a beaten-down stock in the programmable logic business. Margins are wonderful. The company has a tremendous track record, and they're going through some inventory correction that I think would last until the June quarter, and then will be accelerating in the September quarter onwards. Company has excellent products, and getting better. And they also have a new CEO, a younger guy that's moved in. And so I think that they are holding earnings fairly OK during this inventory correction. And business will start accelerating beginning in the June quarter, but much better in the September-December quarter of this year."
Micron is trading up $3.19 to $34.12 with a 52-week high of $97.50 and a 52-week low of $28.
Analog Devices is trading up $2.06 to $49.50 with a 52-week high of $103 and a 52-week low of $29.37.
Altera is trading up $1.50 to $26.69 with a 52-week high of $67.12 and a 52-week low of $19.62.
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JOE BATTIPAGLIA'S STOCK PICKS:
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AIG
MER
GS
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"And the big financial services companies: AIG (AIG: Research, Estimates), Merrill Lynch (MER: Research, Estimates), Goldman Sachs (GS: Research, Estimates), what they will have is the benefit of the easier rate environment, the benefit of their plans to become global and diversified, and, as I say, a less invasive Bush administration that may allow them to move forward with their acquisition and growth plans," said Joe Battipaglia, stock strategist with Gruntal & Company.
AIG is trading up 44 cents to $97.31 with a 52-week high of $103.75 and a 52-week low of $52.37.
Merrill Lynch is trading down 81 cents to $63.19 with a 52-week high of $74.62 and a 52-week low of $36.61.
Goldman Sachs is trading up $4.19 to $98 with a 52-week high of $133.62 and a 52-week low of $65.50. 
-- compiled by Staff Writer Lucy Banduci
* Disclaimer
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