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The Lexington Group Predicts Tech Stocks To Surge In Q3+q4
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Analysts at The Lexington Group believe that technology sector is poised to break out and outperform in the second half of 2013 as well as through 2014. The tech analyst’s team has been researching big names before the sector really takes off. They are recommending these stocks to clients who are looking for solid returns but can handle some risk.
Apple (AAPL) is their first pick, as the release of the iPhones 5S and 5C have caused the share price to drop 5%, analysts believe that this is the perfect time for clients who want to invest in the firm. Apple has secured a contract with Japanese mobile phone operator, DoCoMo and has another in the works China Mobile. The analysts have set a target price of $510, and the stock pays a 2.4% dividend.
International Business Machines Corp. (IBM) is another tech stock they expect to outperform the market. IBM has become highly diversified after its departure from the personal computer business leading to huge profits for the firm. The analysts have set a target share price of $220 and the stock pays a dividend of 2.1%.
Qualcomm Inc. (QCOM) is expected to outperform the market as well. It is a leader in the mobile chip industry because it was the first to produce smartphone chips. Over the past two years it has seen profits of 32% and 29%. The analysts have set a target share price of $80 and the stock pays a dividend of 2.1%.
Seagate Technology PLC (STX) is the analyst’s last pick. Data growth will create more hard disk demand. Seagate's management believes that the demand for data will have a compounded annual growth rate of 50% through 2020. The analysts have set a target price of $50 and the stock pays a dividend of 3.9%.
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