RBC Capital released its top tech picks for 2011, among them, and across the spectrum, were Hewlett-Packard (NYSE:HPQ), EMC (NYSE:EMC), Amphenol (NYSE:APH), Tyco (NYSE:TEL), QLogic (NASDAQ:QLGC) and Jabil Circuit (NYSE:JBL).
This year's picks were based more on companies offering secular growth potential and not "pent-up demand" temporarily accelerated by a perceived recovery move.
RBC Capital analyst Amit Daryanani said his large cap picks like Hewlett Packard, are preferred because of Hewlett's focus on stable growth in its printer supply and IT businesses.
EMC he likes because he sees them spending strongly in 2011 on its enterprise data storage.
He has an "outperform" rating on both companies.
Hewlett-Packard was trading at $43.40, up $0.66, or 1.52 percent, as of 12:45 PM EST. EMC was trading at $22.86, down 0.25, or 1.06 percent. Tyco Electronics was trading at $35.36, down $0.88, or 2.43 percent. Amphenol was down to 52.49, falling $0.92, or 1.72 percent. QLogic was trading at $16.78, losing $0.46, or 2.67 percent. Jabil Circuit was trading at $20.62, dropping $0.27, or 1.29 percent.
Tuesday, January 4, 2011
Hewlett-Packard (NYSE:HPQ), EMC (NYSE:EMC), Amphenol (NYSE:APH), Tyco (NYSE:TEL), QLogic (NASDAQ:QLGC), Jabil Circuit (NYSE:JBL) Among RBC's Top Tech Picks
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EMC Corp,
Hewlett Packard,
Jabil Circuit,
Qlogic,
Tyco Electronics
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