SAN FRANCISCO MarketWatch It s taken more than a decade for the Nasdaq Composite Index to trade back near the 3,000 level. Now that it has, are tech stocks a buy

If you look at price-to-earnings ratios and earnings-growth estimates for 2012, you could make a strong argument that the answer is yes.

Given that U.S. Treasury notes are paying historically low interest rates, and fourth-quarter U.S. economic growth was 3%, stocks look more attractive than bonds right now.

That s not to say you should hit the