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5 Stocks for an Oversold Market

Each of these companies have had some struggles at some point this year, but all have excellent fundamentals with even better businesses. Remarkably, I see each as having at least 20% more upside from their current trading levels.

Cisco and HP, trading at price-to-earnings ratios of 11 and 8 respectively, will likely reach $25 and $30 by year's end. For Microsoft, I continue to maintain a $40 target aided by its Windows 8 launch and there is no doubt that this event will also propel Intel to possibly $35.

For Qualcomm, the stock is a steal at $55 as its supply-chain challenges have been considerably overblown. Value investors who jump in on this current weakness should expect to have a $72 stock by the end of the year.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

At the time of publication, the author was long CSCO and AAPL.

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SYM TRADE IT LAST %CHG
CSCO $27.92 -2.40%
INTC $32.47 -1.22%
HP $73.64 -2.82%
MSFT $41.62 -1.29%
QCOM $67.12 -1.17%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

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