Tech stocks are in the green for the year. Here are Wall Street's favorite picks in the industry

Published Fri, May 8 20208:22 AM EDTUpdated Fri, May 8 20209:10 AM EDT

(This story is for CNBC Pro subscribers only.) The tech-heavy Nasdaq Composite has erased its 2020 losses and turned positive on the year, lifted by companies whose online businesses proved resilient amid the coronavirus lockdowns. After a strong four-day winning streak, the Nasdaq was able to climb into positive territory on Thursday, rebounding more than 30% since late March. The S & P 500 information technology index has also eked out a 1.9% gain year to date, versus a 10% loss for the S & P 500 this year. For investors wanting to bet on the sector, here are the names Wall Street favors the most. CNBC Pro used FactSet to find Wall Street's favorite stocks in the S & P 500 technology index. This list has the 20 stocks with the highest upside based on analysts' average 12-month price targets calculated by FactSet. These stocks also have the highest percentage of buy ratings from Wall Street. IT services company DXC Technology is the name that analysts feel has the most upside. On average, Wall Street analysts see a 71% rally for the stock in the next 12 months. The stock has underperformed this year, down more than 50%, but it got a boost recently when the company announced it will sell its Medicaid services unit to private equity firm Veritas Capital for $5 billion in cash. The list also includes a slew of semiconductor makers — Western Digital , Micron Technology , Applied Materials , Lam Research , Microchip Technology , Qualcomm , Qorvo , Analog Devices and Broadcom . Chipmakers took a big hit from the coronavirus pandemic as it wreaked havoc on the global supply chain. The 5G transition at many tech firms stalled, leaving chip suppliers in a bind. Wall Street now expects many semiconductors to bounce back from the downturn. For example. Bank of America listed Lam Research, Microchip Technology and Broadcom as high quality companies that could recover quickly as the coronavirus headwinds abate. Credit card companies and mobile payment plays Mastercard and Visa also are among Wall Street's favorites with analyst seeing double-digit upside for both names. Last week, Mastercard reported better-than-expected earnings and revenue for the first quarter, citing a "dramatic" increase in online payments amid the pandemic . Shares of Mastercard were down about 6% this year.

A trader works on the floor of the New York Stock Exchange shortly after the opening bell in New York, January 24, 2020.

Lucas Jackson | Reuters

(This story is for CNBC Pro subscribers only.)

The tech-heavy Nasdaq Composite has erased its 2020 losses and turned positive on the year, lifted by companies whose online businesses proved resilient amid the coronavirus lockdowns.

After a strong four-day winning streak, the Nasdaq was able to climb into positive territory on Thursday, rebounding more than 30% since late March. The S&P 500 information technology index has also eked out a 1.9% gain year to date, versus a 10% loss for the S&P 500 this year.

For investors wanting to bet on the sector, here are the names Wall Street favors the most.