With Apple and Ebay's better than expected earnings yesterday, many are looking to Microsoft , which is scheduled to report after the bell today, as a barometer for the rest of the tech sector. Here are the results of a stock screen looking for beaten down techs companies that analysts expect to grow at a fast clip in the year ahead.
We started the screen with the 75 stocks in the S&P 500 Information Technology Sector and then filtered it down to the 10 companies (table below) that were down more than 20% in the past 52 weeks, have forward fiscal year EPS growth estimates of more than 20% and have PEG ratios below 1.
Data Source: ThomsonReuters
Remember to keep in mind that this screen is just a starting point for more homework. Earnings estimates, for example, often change. One year ago, analysts estimated that the tech sector would grow earnings this quarter by 22%. Today, First Call estimates from ThomsonReuters have the current estimates for the sector down 27.8%, with many more companies still to report.
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