Editor's note: TipRanks is a tech company that ranks analysts and financial bloggers based on their recommendations performance.
Technology, one of the hottest sectors in the past few years, may still present opportunities for those investors looking to get behind today's latest trends.
With 2016 on the horizon, TipRanks compiled a list of the 10 best tech analysts on Wall Street that consistently generated positive returns with their stock ratings over the past seven years.
These are the analysts who were able to see the potential of cloud computing, predict the impact of declining PC sales and appreciate the increasing influence of e-commerce.
The rankings are based on the following factors:
- The average return of every recommendation given by an analyst in the year following the rating. If an analyst says "buy" Apple, the return of the call is measured in the following year.
- The success rate of the analyst or how many of the analyst's buy/sell recommendations generated positive returns in the following year.
- The significance of the data or how many ratings each analyst has. More ratings provide higher significance; therefore the analyst is more likely to be ranked very high or very low.
Based on more than 400,000 ratings that were measured since January 2009, the 10 best-performing analysts are:
10. Ross Seymore, Deutsche Bank
Covers several semiconductor companies within the technology sector, such as NXP Semi, Ambarella and Intel. Seymore's average return for all his buy/sell ratings is 23 percent. Out of his 123 total ratings, 92 have generated a positive return, resulting in a 75 percent success rate.
9. Michael Walkley, Canaccord Genuity
Covers technology companies including Apple, Qualcomm and Skyworks Solutions. Walkley's average return for all his buy/sell ratings is 16.4 percent. Out of his 326 total ratings, 201 have generated a positive return, resulting in a 62 percent success rate.
(The rest of the list is below for CNBC Pro