Traders should "rethink" one tech stock associated with an old corner of the industry — making printers and scanners, according to one investor.
They're expanding in all aspects of net based cloud services for all business enhancements," Blancato said.
He added that it's now a tech company trading at valuations "significantly better" than any other tech company.
"Rethink the name Xerox, it's going to surprise you what they can do in the next couple of years," he said.
In the years before, however, its annual dividend per share was as low as $0.17 in 2012.
Persons:
Philip Blancato, CNBC's, Blancato, Steve Bandrowczak, FactSet, Xerox's
Organizations:
Xerox, Asset Management, Nasdaq