This week 24/7 Wall St. is picking several stocks that are likely to double off of their lows. The timeframe is by the end of 2010, which is meant to coincide with some form of economic recovery next year. This is not based on a sharp turn up in the economy. A number of the credit and financial issues facing the markets will be in place for the near-term or longer. The other assumption used for choosing the stock prices is a market bottom of 600 on the S&P 500 Index.
24/7 Wall St.’s five stocks from the tech sector that are likely to double off of their lows:
• Qualcomm (QCOM)
• Yahoo! (YHOO)
• Apple (AAPL) has fallen sharply as analysts revise downward their earnings for the year. Most have cut estimates for Mac, iPhone, and iPod sales. Expectations for the next two quarters are low. Apple will continue to pick up market share in the handset and computer sectors, offsetting most of the effects of the overall softness in those industries. The Apple iPhone App store currently has15,000 applications and more than half a billion downloads. A large number of software programmers are using the iPhone as their platform of choice. Apple sales will be better than expected.
• Adobe (ADBE)
• Nokia (NOK)
Full article here.
