Monday's Tech Winners & Losers: Amazon.com - TheStreet

Monday's Tech Winners & Losers: Amazon.com

Amazon.com soars after an analyst puts the stock on his conviction buy list.
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Tech stocks were up Monday in part by favorable research notes on companies such as

Amazon.com

(AMZN) - Get Report

and

Texas Instruments

(TXN) - Get Report

.

Shares of

Amazon.com

(AMZN) - Get Report

soared $8.04, or 10.5%, to $84.49 after James Mitchell, an analyst at Goldman Sachs added the stock to the firm's 'Americas Conviction Buy' list.

Mitchell also raised his six-month price target on the stock to $98 from $75. Based on the company's online-offline expansion strategy, the demand for its electronic book reader Kindle, and share gains in a growing online retail market, Mitchell said he estimates Amazon can sustain more than 20% year on year unit growth over five to 10 years.

Texas Instruments

(TXN) - Get Report

gained 81 cents, or 2.5%, to $32.60 after a Citgroup analyst upgraded the stock to buy from hold. Analyst Glen Yeung also added TI to his 'Top Picks Live' list and raised the price target to $39 from $31. Chip orders are likely to pick up in the second half of 2008, driven by new product launches, he said.

Shares of

Oracle

(ORCL) - Get Report

were up 94 cents, or 4.3%, to $22.62. The company and CEO Larry Ellison were featured in a largely flattering

the cover story

in this week's

Barron's

magazine, which said many investors do not understand the full potential of the company's operations and the value of the stock.

Video-games publisher

Electronic Arts

(ERTS)

shed 64 cents, or 1.3%, to $48.97 after it extended it tender offer for rival

Take-Two

(TTWO) - Get Report

yet again

to June 16. Shares of Take-Two fell 30 cents, or 1.1%, to $26.80.

Akamai

(AKAM) - Get Report

shed 44 cents, or 1.1%, to $39.89 after an analyst at Citigroup downgraded the stock to hold from buy, saying the risk-reward ratio for potential investors is less compelling now that the stock has moved within 4% of the analyst' price target of $42.

GPS-based navigation devices maker

Garmin

(GRMN) - Get Report

shed $1.39, or 2.8%, to $48.63 after an analyst at Needham downgraded the stock to hold from the buy. Garmin shares have exceeded the analyst's price of $48 even as the uncertainty around the personal navigation devices market continues weighing down on the stock.