BOSTON (TheStreet) -- The following computer-hardware stocks are the best-in-breed, according to TheStreet's quantitative model, which ranks equities based on fundamentals and performance. They are ordered by potential to appreciate, from worst to best.

5. QLogic

(QLGC)

designs storage components.

The numbers

: Fiscal third-quarter net income decreased 7% to $29 million, but earnings per share grew 4.2% to 25 cents, helped by a smaller float. Revenue dropped 8.9% to $149 million. The operating margin narrowed from 29% to 23%. QLogic holds $349 million of cash and no debt.

The stock

: QLogic doubled in the past year, beating U.S. indices. The stock trades at a price-to-projected-earnings ratio of 15, on par with peers. Its PEG ratio, a measure of value relative to growth, is expensive at 1.8. A PEG ratio over 1 implies expensive shares.

4. EMC Corp.

(EMC)

sells servers, software and cloud-computing services.

The numbers

: Fourth-quarter profit soared 58% to $426 million, or 20 cents a share, as revenue inched up 2.1% to $4.1 billion. The operating margin widened from 14% to 17%. EMC holds $6.7 billion of cash and $3.1 billion of debt.

The stock

: EMC advanced 68% over the past 52 weeks, outperforming U.S. benchmarks. The stock trades at a price-to-projected-earnings ratio of 14, on par with competitors. Its PEG ratio of 0.3 represents a 58% discount to the industry average.

3. Hewlett-Packard

(HPQ) - Get Report

makes laptop and desktop computers.

The numbers

: Fiscal first-quarter profit rose 25% to $2.3 billion, or 96 cents a share, as revenue advanced 8.2% to $31 billion. Hewlett-Packard's operating margin extended from 9.4% to 10%. The balance sheet contains $14 billion of cash and $16 billion of debt.

The stock

: Hewlett-Packard soared 77% over the past 12 months, outpacing U.S. indices. The stock trades at a price-to-projected-earnings ratio of 10, a discount to peers. Its PEG ratio of 0.4 reflects a 51% discount to the industry average.

2. Apple

(AAPL) - Get Report

designs computers, mobile phones and hand-held music players.

The numbers

: Fiscal first-quarter profit surged 50% to $3.4 billion, or $3.67 a share, as revenue increased 32% to $16 billion. Apple's operating margin climbed from 26% to 30%. The balance sheet houses $25 billion of cash and no debt.

The stock

: Apple appreciated 134% in the past year, more than major benchmarks. The stock trades at a price-to-projected-earnings ratio of 15, on par with competitors. Its PEG ratio of 0.7 indicates parity with peers, but a discount based on growth expectations.

1. Western Digital

(WDC) - Get Report

sells hard-drives.

The numbers

: Fiscal second-quarter profit multiplied 31-fold to $429 million, or $1.85 a share, as revenue increased 44% to $2.6 billion. The operating margin rose from 6.7% to 18%. Western Digital holds $2.4 billion of cash and $444 million of debt.

The stock

: Western Digital has nearly tripled over the past year, outperforming U.S. indices. The stock trades at a price-to-projected-earnings ratio of 6, a discount to peers. Its PEG ratio of 0.1 reflects a 93% discount to the industry average.

-- Reported by Jake Lynch in Boston.

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