WINDERMERE, Fla. (
Stockpickr) -- Technology stocks have basically done nothing so far in 2011 when you take a look at the performance of the
Nasdaq. The tech-heavy index is up just 1.2% year-to-date. That's basically a flat performance on the year, and it shows market players have had little buying interest in technology stocks.
Many of the top technology names have been hammered in the past year. For example, take a look at the performance of BlackBerry maker
Research In Motion
(RIMM). This well-known tech player has been destroyed by the sellers, with the stock off by 65% on the year.
Another popular tech stock that's been hammered is computer hardware player
(HPQ). Shares of HPQ have traded lower by over 35% in 2011.
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The carnage doesn't stop with those two popular tech names. Communication equipment maker
has lost over 35%, and network infrastructure player
has also sold off by over 35%. Computer storage device player
has plunged by over 25% this year. I am sure you get the picture; many tech stocks have had a rough time in 2011.
That said, what if we see a rebound in the sector into the end of the year? Some of the beaten-down tech names could easily see huge moves if large institutional buyers return to the space and overwhelm the sellers. Jim Cramer recently pointed out on his "Mad Money" TV show that in the last nine of 10 years, tech has bottomed and began to inch higher between mid-September and late October.
With that in mind, it's time to take a hard look at
some beaten-down tech stocks that could rebound big from current levels