In Barron’s semi-annual Big Money Poll, institutional investors are asked about their two favorite stocks and also which shares are most overvalued. For the latest poll, 112 money managers responded.

On the buy list were such household names as Cisco (CSCO), Microsoft (MSFT), Intel (INTC), and GE (GE). The stocks these investors wanted out of included Starbucks (SBUX),  RIM (RIMM), Amazon (AMZN), Baidu (BIDU), and Sears (SHLD).

But, Apple (AAPL) and Google (GOOG) were on both lists. The schizophrenia surrounding the stocks has to impress even the most long-time trader.

Apple’s future no longer relies on the iPod. The iPhone could eventually sell 30 million or 40 million units a year. The entire global market for handsets is over one billion per annum. But, competition could beat the device back into the stone age. The Mac is hot now, but HP (HPQ) and Dell (DELL) may have something to say about that.

Google (GOOG) may have over 50% of the global search market, but that may have peaked. The company must now look to its online application products and the new Google phone for growth. There is no way to handicap those products.

Both the "buy" and "sell" crowds may be right on the two companies depending on the time-line Wall St. wants to put on the eventual prospects of the firms.

Douglas A. McIntyre

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