If there was ever a time for investors to be concerned about valuations, it might be now. With the market trading at over 18 times earnings, things are getting a little pricey. The UBS Quality Growth at a Reasonable Price, or Q-GARP, portfolio may be one of the most timely portfolio of stocks from any of the firms we cover on Wall Street.

This month the UBS team is adding a social media leader to the list, which may come as a surprise to some investors. Mylan N.V. (NYSE: MYL) is removed from the list. Here we profile the new addition to the list, as well as the other four technology stocks that are Q-GARP members.

Facebook

The social media giant is added to the list this month. Facebook Inc. (NASDAQ: FB) remains the face of social media, and a challenger seems nowhere in sight. The stock has been on fire for more than a year and the social media behemoth does not look to be slowing down. The revenue change over the past year was an astounding 54.69%. The UBS analysts point out that the stock is trading at the lowest price to earnings since it came public three years ago.

With Instagram, Premium video and Graph Search capabilities, some analysts feel that the company can drive revenue growth even without a huge increase in advertising placement. Many analysts feel that investor sentiment is very positive and that mobile advertising growth via different silos can be added this year, in 2016 and beyond.

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The UBS team note that the company has garnered a dominant and what they believe to be a durable share of user time spent on mobile browsers and apps. Over the past several quarters, the company has made significant traction “monetizing” this user engagement. The analysts expect further gains in advertiser adoption of the Facebook ecosystem, particularly overseas, to drive robust revenue and earnings growth in the years ahead.

The UBS price target for the stock is $92. The Thomson/First Call consensus price target is higher at $95.58. The stock closed on Monday at $80.88 a share.

Cognizant Technology Solutions

This tech stock is well liked across Wall Street. Cognizant Technology Solutions Corp. (NASDAQ: CTSH) provides IT consulting, and business process outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Manufacturing, Retail, and Logistics; and Other. It offers consulting and technology services, such as IT strategy, program management, operations improvement, strategy and business consulting services.

Cognizant is based in the United States, though it primarily uses an offshore workforce in India. The company is well positioned for a variety of trends in IT services, and it is expected to increase earnings well in excess of the industry average.

The UBS price target for Cognizant is $66. The consensus objective is $70.37. The stock closed trading on Monday at $64.74.

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Apple

Apple Inc. (NASDAQ: AAPL) remains the world’s biggest and boldest technology company and has stayed in the limelight with the release of the new Apple Watch. While not generating the kind of in-store mania the iPhone 6 release did, reports indicate over a million orders for the new wearable device were taken by the company, and they are now ratcheting up the advertising on the new wearable device.

Many Wall Street analysts see strong continued iPhone 6 and 6 Plus sales, and numerous catalysts on the horizon. The company is also widening its lead over Google in the App marketplace. In fact, revenue at Apple’s global App Store was about 70% higher than on Google Play in the first quarter, compared with about a 60% advantage in the third quarter of 2014

Tim Cook may be poised to announce a monster upgrade for Apple Maps at the company’s upcoming developers conference in June. Apple recently acquired Coherent Navigation, a technology startup that specializes in ultra-accurate GPS tracking.

Apple investors are paid a 1.61% dividend. The UBS price target is $150, and the consensus figure is at $148.18. The stock closed Monday at $130.19.

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Google

This stock has underperformed the overall market for over a year and may be an outstanding buy at current levels. Google Inc. (NASDAQ: GOOGL) is still a victim of some lingering negative investor sentiment due to continued concerns about margins, mobile risk to the core search business, the company’s capital allocation stance and currency headwinds. Google remains the undisputed leader in Internet search, and with a diverse portfolio that includes everything from the Android platform, to YouTube, to the Google Wallet for automatic pay, to the Google Flights tool, continued growth is not out of the question.

With a gigantic stash of cash, some are anticipating a capital return to shareholders, which some on Wall Street do not think is in the cards now. The company does have some of the brightest minds in Silicon Valley helping to drive innovation and growth, and Google at current discounted pricing may be one the of the best tech buys for not only this year, but many to come.

The UBS price target for the stock is posted at a gigantic $675. The consensus target is set at $638.30. The stock closed Monday at $546.67.

Qualcomm

This is another top technology stock that has totally underperformed this year. Qualcomm Inc. (NASDAQ: QCOM) lowered its full-year earnings and revenue forecasts to start off the year, as it lowered the sales outlook for its semiconductor business. Not what analysts were expecting. The stock is a Wall Street favorite, and many are sticking to their guns, basically saying that trading at current levels, the stock is at 14.81 times estimated 2015 earnings, it is a tremendous long-term value. Qualcomm is a quality tech company with recurring royalty revenue and a strong footprint, so patient investors may fare very well.

The company is reported to be losing chip business, and activist investors Jana Partners is said to be pressuring the company to spin off its chip business. Jana also wants Qualcomm to cut costs, accelerate a share buyback, improve disclosures and refresh its board. Jana is listed as one of the company’s largest shareholders.

Qualcomm investors are paid a 2.8% dividend. UBS has a $71 price target for the stock, and the consensus target is higher at $74.78. Shares closed Monday at $70.42.

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All these mega-cap tech stocks make good long-term holdings in more aggressive growth portfolios. None is a momentum darling that will get blasted at the first sign of danger or a market correction.

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