Micron, HPE and AMD Rank Among Top Technology Quant Picks

Micron Technology, Hewlett Packard Enterprise (HPE) and Advanced Micro Devices (AMD) rank among the top technology stocks with Strong Buy ratings as the sector heads into third-quarter earnings, which are projected to rise 65% from a year earlier.

MaxLinear and Netlist also made the list of leading technology stocks. The rankings assess relative measures including valuation, growth, profitability, earnings-per-share revisions and price momentum, along with analyst sentiment.

The technology sector of the S&P 500 gained nearly 11.6% in the third quarter, well ahead of the broader index’s roughly 2% advance. The performance sets the sector’s stock gains against a stronger earnings-growth outlook as companies prepare to report results.

Semiconductors and semiconductor equipment are expected to provide the largest contribution to the technology sector’s projected third-quarter earnings growth. The industry’s contribution is expected to drive much of the sector’s 65% year-over-year increase.

The earnings reports will provide the next major test for the technology stocks’ quantitative rankings and the sector’s growth outlook.