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Top Tech Picks for 2012 (ADI, IDTI, AAPL, QCOM, SWIR, TRMB, ROVI, CRM, NUAN, GOOG, Z, VELT, KITD)
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Canaccord Genuity has joined in with many of the brokerage firms issuing top picks and trends to watch in 2012 from its analysts. The latest is the firm’s “Top Technology Picks for 2012” which we received. We have shown some of their commentary on each segment below, but the following are some of the top tech picks from the firm: Analog Devices Inc. (NYSE: ADI); Integrated Device Technology, Inc. (NASDAQ: IDTI); Apple Inc. (NASDAQ: AAPL); QUALCOMM Inc. (NASDAQ: QCOM); Sierra Wireless, Inc. (NASDAQ: SWIR); Trimble Navigation Limited (NASDAQ: TRMB); Rovi Corporation (NASDAQ: ROVI); Salesforce.com (NYSE: CRM); Nuance Communications, Inc. (NASDAQ: NUAN); Google Inc. (NASDAQ: GOOG); and Zillow, Inc. (NASDAQ: Z).
2012 Picks in Semiconductors from analyst Bobby Burleson:
Analog Devices Inc. (NYSE: ADI) reiterated Buy with $38 price target; Integrated Device Technology, Inc. (NASDAQ: IDTI) reiterated Buy with $7.00 price target.
“While we remain concerned about near-term softness in PCs and communications and acknowledge the potential for another number cut, we believe the worst cuts are behind us. Heading into 2012, we like names with broad-end market exposure and low PC exposure like Analog Devices and Integrated Device Technology.”
2012 Picks in Communications Technology from analyst T. Michael Walkley:
Apple Inc. (NASDAQ: AAPL) reiterated Buy with $560 price target; QUALCOMM Inc. (NASDAQ: QCOM) maintained Buy with $74.00 price target; and Sierra Wireless, Inc. (NASDAQ: SWIR) with a $9.00 price target.
“While we anticipate global handset units will increase by 7% YoY in 2012 to 1.72B units, we anticipate much faster growth trends for the smartphone market. In fact, we are modeling 481M smartphone units in 2011 ramping to 650M units in 2012, or 35% YoY growth.”
2012 Picks in New Media & Location Technology from analyst Jeff Rath:
Trimble Navigation Limited (NASDAQ: TRMB); Velti PLC (NASDAQ: VELT); KIT Digital, Inc. (NASDAQ: KITD); and Rovi Corporation (NASDAQ: ROVI).
“We fully expect the US Pay-TV service provider eco-system to undergo an accelerating change as cable providers roll out more robust OTT/Hybrid video offerings in response to growing competitive pressures, and in an attempt to stem ongoing losses of its core video subscribers.”
2012 Picks in Enterprise Software from analyst Richard Davis:
Salesforce.com (NYSE: CRM) and Nuance Communications, Inc. (NASDAQ: NUAN).
“Software companies – at least firms with next generation architectures – are in great shape. Cloud software accounts for less than 10% of installed code. Barring horrific economic headwinds, the “revolutionaries” on which we focus our coverage are very likely to gain market share at the expense of legacy competitors”
2012 Picks in Internet from analyst Michael Graham:
Google Inc. (NASDAQ: GOOG) reiterated Buy with $725 price target and Zillow, Inc. (NASDAQ: Z) listed as n attractive acquisition target and the firm has an organic (non-M&A) price target of $32.00 for the stock.
“We believe the underlying drivers will be growth in online advertising, eCommerce, mobile commerce, and social networking adoption.”
These are the picks we have been sent by Canaccord Genuity’s research relations. The firm has many other picks in technology which did not make the 2012 list.
JON C. OGG
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