Intel, Cisco Systems, and IBM are among the stocks favored by portfolio managers surveyed by Barron's for the business publication's "Big Money Poll."
The stocks the managers ranked as most overvalued, in descending order, were Netscape Communications, Coca-Cola, Iomega, Presstek, America Online, Microsoft, and Starbucks. Some stocks appeared on both the most and least popular lists, including Cisco, Motorola, U.S. Robotics, and Ascend Communications.
In addition, the poll turned up the biggest increase in bearish sentiment in seven years, with 32 percent of the respondents saying they think the market will decline. That compares with 15 percent three months ago.