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EMC (EMC - Get Report) takes the third spot on our list of pension fund favorites for the first quarter. Pensions bought up EMC last quarter, as the value of their holdings increased by more than a third to 1.35 billion.
EMC develops and sells the software and hardware used to link storage devices together to serve the cloud, a critical part of the equation as the amount of data we need to store increases exponentially. As a result, it's benefitting from the biggest buzzword in the tech sector right now.
>>5 Tech Stocks to Buy Instead of Facebook
Cloud computing is gaining in popularity as the number of devices we use increases. Today's consumers expect their data to be available on their computers, mobile phones, tablets and even gaming consoles, making hefty storage capacity at server farms a precious commodity. Because EMC's business is built around stuffing more data into the same amount of space, its revenues have been stair stepping for the past few years.
A fortress balance sheet with more than $10 billion in cash and investments easily offsets around $3.4 billion in total debt. That financial wherewithal should help to bankroll acquisition opportunities, in turn helping to
grow EMC's market share by double-digits in the last year.
EMC shows up on recent lists of
5 Stocks Ready for Rising Data Demand and
3 Tech Stocks to Buy on a Pullback.