Intel was the worst-performing Dow stock on Monday, falling 3%, as the entire tech sector came under pressure. Cisco also fell.
"Intel, which we feel has been really beat up and really not rightfully justified, is a great value opportunity for us, we feel, trading round 12 times forward [earnings], very, very healthy balance sheet and paying us almost 2.5% to wait," he told CNBC's " " on Monday. "We think that they're going to benefit as investors and traders look back towards technology stocks.""The same goes with Cisco. Cisco is trading very cheap on a forward basis and has a better balance sheet than Intel and pays us almost 3% to wait," said Tatro. "Just like we didn't chase them off when everybody was chasing them in February and March, we're buyers of the dip here in some of the technology and growth names.
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