NEW YORK (TheStreet) -- Worldwide IT spending is forecast at $3.8 trillion in 2012, increasing 3.7% from the previous calendar year, according to the latest outlook by technology researcher Gartner. Total tech spending has grown at a CAGR of 4.6% since 2006 and is estimated to cross increase to 6.8% from 2010 through 2015, according to International Data Corporation (IDC). The hardware sector is likely to lead the growth due to the proliferation of smart phones and tablets.
Developed markets in North America and Western Europe account for about 70% of IT spending. At $593 billion, North America accounts for the largest portion of about 37% of Tech spending.
Based on average estimates of analysts surveyed by Bloomberg, these IT stocks have upsides ranging from 9% to 53%. The buy recommendation and hold guidance for these stocks is 75% and 22%, respectively.
The nine stocks are listed in ascending order of upside potential.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV