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Goldman Sachs' Best Tech Stocks for 2011

BOSTON ( TheStreet) -- It's been tough sledding for technology stocks this year, and Goldman Sachs' (GS - Get Report) "conviction buy" list for tech companies are indicative of that, showing mixed results. Still, the Wall Street bank is hanging in there with six of its picks from the start of the year.

The firm had seven stocks on its list at the start of 2011 and, since then, has dropped Sapient (SAPE) from the "conviction buy" list and added Synchross Technologies (SNCR - Get Report).

Sapient's shares have gained 19.8% this year and had topped the target price of $15, although they are now trading at $14.19.

Stocks in the information-technology sector are performing poorly this year, losing 3.2% through June 24, as tracked by Fidelity, ahead of only financial shares, which have lost 9.5% of their value. The S&P 500 Index is up 1.8% this year and 20.5% over the past 12 months.

Standard & Poor's said in a recent research note that hardware and software companies with an Internet bent are likely to prosper over the next year. The ratings firm said in a recent research note that "we foresee growing demand for Internet-based computing solutions because they offer companies opportunities to reduce costs and improve customer service. Accordingly, servers and data-center computing hardware should benefit from rising demand." However, the industry is extremely competitive, hence its "neutral" rating.

Here are updates on the seven technology stocks currently on Goldman Sachs' "conviction buy" list:

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EMC $27.12 0.00%
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NCR $28.09 0.00%

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