Tech Stock Wrap-up – Today’s 5 Top Plays

Posted by on Sep 08, 2010 | No comment

In a research report released today, UBS maintained its Buy rating on Apple Inc. (NASDAQ: AAPL) UBS, however, raised its price target for the Apple Inc. stock from $340 to $350. The brokerage firm also raised its FY10 EPS estimates from $14.50 to $14.51 and FY11 EPS estimates from $16.62 to $18.09. UBS raised is EPS estimates for FY10 and FY11, citing strong demand for Apple’s iPad and iPhone 4.

Apple Inc. also has a Buy rating from Gleacher & Co. The brokerage firm has a price target of $345 on the Apple Inc. In its research report released last week, the brokerage firm said that it is impressed with the iPod and Apple TV refreshes, however, what stole the show was Ping, which is the company’s social networking initiative. Gleacher & Co believes that Ping could potentially drive increased purchases on the Apple ecosystem.

The Apple Inc. stock has a 52-week range of $46.60-$279.01. The stock is currently trading above is 20-day and 50-day moving averages, which is a bullish signal.

Dell Inc. (NASDAQ: DELL) recently lost a takeover battle with Hewlett-Packard Company (NYSE: HPQ) to acquire 3PAR Inc. (NYSE: PAR). The takeover battle began in August, after Dell offered 3PAR Inc. $18 per share. However, Hewlett-Packard Company immediately followed with a superior offer, forcing Dell to raise its initial offer.

The takeover battle finally ended this month, after 3PAR Inc. terminated a merger agreement with Dell Inc. and took up Hewlett-Packard’s superior offer. However, Dell is entitled to termination fee of $72 million from 3 PAR Inc.

The Dell Inc. stock has a 52-week range of $11.34-$17.52. The stock is currently trading above its 20-day and below its 50-day moving average.

Research In Motion (NASDAQ: RIMM), the maker of BlackBerry smartphones, will announce its second-quarter financial results on September 16. The company expects second-quarter revenue to come in between $4.4 billion and $4.6 billion. Second-quarter gross margin is expected to come in at 44%. The company expects second-quarter EPS of $1.33-$1.40.

Research In Motion has been in facing problems in the Gulf and in India over some of BlackBerry services. It will be interesting to see how much the problems impacted the company’s performance in its second quarter.

The Research In Motion stock has a 52-week range of $42.53-$88.08. The stock is currently trading below its 20-day and 50-day moving averages, which is a bearish signal. The stock has a support level at $43.35 and a resistance level at $45.40.

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