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Thursday June 28, 2012
Quickel's picks: 9 tech plays
by Stephen Quickel, editor US Investment Report We have stepped up our research efforts during the market’s spring correction, especially as stocks descended to oversold levels. Here a dozen tech stocks to consider. We are re-recommending Amazon.com (AMZN), which appears ready to resume its climb after spiking from 195 to 225 on great results in April and then drifting back to 210 in May. Now back above 220, with expected earnings growth of 38% a year, AMZN seems headed for 250. Our computer hardware & systems picks are EMC Corp. (EMC), Micros Systems (MCRS) and Seagate Technology (STX). As leaders in the strong first-quarter market rally, they were hit hard in the correction, but all three are now on the rise and ready to break above their 10-week moving averages on strong fundamentals and solid buying support. Two newcomers to our computer software & services list are Acutate (BIRT), an innovative San Mateo applications software company with revenues nearing $200 million, and Web.Com Group (WWWW), which provides website publishing and management for small and midsize businesses. In the semiconductors & electronics sectors, we’ve put Intel (INTC) back on the Recommended List, with a nice rebound above it 10-week moving average and a 10 P/E. We’ve also restored Ametek (AME), a steady long-term riser among electronics shares, Mellanox Technologies (MLNX) is a fabless semiconductor company (it does not make chips but sells others chips) whose share have shot from 40 to 75 this year. A minority investment by Oracle and a supplier deal with Intel have sparked eager buying, elevating its forward P/E to 37. Earnings growth is estimated at 21.8%. Its InfiniBand adapter chips “have an immense lead over Ethernet,” says Oracle chief Larry Ellison. Learn more about this financial newsletter at Stephen Quickel's US Investment Report. Related articles:
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