For bad performing stocks, earning season can give them a much needed shot in the arm. Their bad performance in the stock market can receive a major boost with an earnings upswing. For good performing stocks, earnings that reach the slightly below expectation level may turn out to be bad for them as well.
Recently, top technology stocks have been up for sale because they either missed a one-off earnings or knocked down the share price. For aggressive investors, this can be the perfect opportunity for buying these top tech companies while they are up for grabs.
UBS technology has been constantly on the prowl for top technology stocks that have been the most oversold. The recent spate of selling has given top momentum names a huge blow as well as given investors with a high risk tolerance level, an opportunity to enter and purchase these top technology stocks. A single bounce back in earnings for these big names can stir a strong market rally which could prove beneficial to them. Here we will look at the top five tech stocks that investors can buy that are way oversold due to their 14-day relative strength. These names can give investors an opportunity to buy a position or at least put some capital in. Here are technology stocks that are up for sale as published in Yahoo Finance and 24/7 Wall Street.
1. Rackspace Hosting
These tech stocks has dropped over 10% since the latter part of June 2014. In the first quarter of this year, it showed an 8.5% increase in its earnings. Considered as the global leader in hybrid cloud, the consensus selling price for Rackspace is $41.32.
2. Salesforce.com
Salesforce.com's stock has seen a 10% drop recently. Over the past few years, it was considered as a stock trader's dream which many people believe should be sold at a premium price due to its position as a dominant force in the cloud, mobile, and social computing sector. The target price is $67.84.
3. SanDisk Corp
Considered as one of the top manufacturers and suppliers of flash memory storage drives, SanDisk Corp recently reported earnings that were below their estimates. However, its recent partnership with Apple for the iPhone 6 assured the company that it will continue to be among the leaders in flash memory storage. The consensus target price for these stocks is $113.39.
4. Amazon.com Inc.
Most Wall Street analysts believe that Amazon is a top stock to own for this year and the future. Its gigantic cloud storage business continues to dominate the competition. The consensus target price is $433.45.
5. CA Technologies
CA Technologies is one of the top providers of IT management solutions for managing and securing complex IT environments. Their software is being used by companies to leverage innovation, transform infrastructure and secure data and identities. The consensus target price for these stocks is $29.
Join the Conversation