Apple Inc. (AAPL) and 10 Tech Stocks Analysts are Recommending

You might remember our coverage of Apple Inc. (NASDAQ:AAPL) analysts’ target prices in comparison with the stock’s actual market performance last year. If you’ve followed the tech scene over the last six months, then you must know what a disastrous strategy it has been to “trade the ratings” with Apple.

We discussed how the widest gap between the mean target price per analyst consensus and actual stock price was at 44% for Apple Inc. (NASDAQ:AAPL), which was more than the gap for technology giants like Microsoft Corporation (NASDAQ:MSFT) or Google Inc (NASDAQ:GOOG), for example. Well, things haven’t changed much since then and, in spite of a weaker undertone, Apple is still one of the most widely covered stocks on Wall Street, who are still giving exuberant target prices for the company.With targets between $360 and $888, the average target price comes to $591.19, which is still about 40% higher than its present market price.

On the other hand, we can have a fair idea about investors’ feelings by looking at Apple’s market capitalization figures. Apple Inc. (NASDAQ:AAPL)’s market cap was over $600 billion merely six months ago and has since dropped to slightly above $400 billion. With companies like Samsung and Blackberry launching new products, competition is getting tougher in the smartphone industry–both from an OS and OEM standpoint–and this is putting additional pressure on Apple’s bottom line performance.

Photo credit: Apple Inc. (NASDAQ:AAPL)

In light of Mr. Market’s pessimism over Apple, analysts may have to adjust their target prices downwards, so it’s important to watch this space closely.

We’d like to present 10 tech stocks that currently sport analyst target prices above their trading price. Aside from Apple Inc. (NASDAQ:AAPL), Highlights include Facebook Inc. (NASDAQ:FB), QUALCOMM, Inc. (NASDAQ:QCOM), Cisco Systems, Inc. (NASDAQ:CSCO) and Google Inc. (NASDAQ:GOOG).

(Data via WSJ/Dow Jones & Co.)

Let’s take look at the list.