Top-Ranked Tech Analysts Give Their 10 Best Picks, Including Amazon, Netflix and AMD

The volatility in the tech names in the past weeks serve as a reminder that they can be risky investments. Berkshire Hathaway's (BRK.B - Get Report) Warren Buffett is well-known for his cautious outlook on tech names because he wants to understand a business before he invests in it. "We will not go into businesses where technology, which is way over my head, is crucial to the investment decision," he once said, according to Alice Schroeder's 2008 biography "The Snowball: Warren Buffett and the Business Life." 

To help you decide which tech names are worth the risk, TheStreet teamed up with financial analyst ranking website TipRanks to bring you the top stock picks from the top 10 tech analysts. The top analysts were calculated by TipRanks according to their success rate, or the number of their ratings that have generated positive returns, as well as average return per rating and the statistical significance of these results. 

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1. Mark Miller, Benchmark: Western Digital
1. Mark Miller, Benchmark: Western Digital

Benchmark's Mark Miller is the number one analyst on TipRanks across all sectors. He has an 84% success rate and 33.8% average return.

Miller reiterated his "buy" rating on computer data storage company Western Digital (WDC - Get Report) on June 21 and gave it a 12-month $135 price target, representing 45% upside from the current share price. 

On May 24, Miller wrote a note to investors urging them to focus on the following positives for Western Digital: "The firm's leadership in storage, the double digit CAGR for storage demand and NAND flash, ability to lead the ramp of next generation 3D NAND chips, the execution of its projected synergistic savings, its strong cash generation and modest valuation while ignoring reports or data aimed at generating short-term and often contrived trading volatility."

Western Digital is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells WDC? Learn more now.

2. Richard Davis, Canaccord Genuity: Twilio
2. Richard Davis, Canaccord Genuity: Twilio

Canaccord's Richard Davis has a 76% success rate and 25.4% average return. He reiterated a "buy" rating on Twilio (TWLO - Get Report) on June 21 with a $33 price target, representing an 11% upside from current share prices. 

Davis wrote in the note that he expects another good September quarter for the company that offers cloud communications platforms. "This could be the catalyst for investors to realize that the end is not near, but in fact, we are still early days in what should be a good long-term fundamental story," he said. 

3. Mark Lipacis, Jefferies: Advanced Micro Devices
3. Mark Lipacis, Jefferies: Advanced Micro Devices

Jefferies' Mark Lipacis has a 79% success rate and a 30.7% average return. 

On June 21, Lipacis had a "buy" rating on semiconductor player Advanced Micro Devices (AMD - Get Report) with a $16 price target, representing 13% upside from the current share price. 

"We currently model that EPYC captures 7% of the server market by EoY18, and the customer announcements today give us a higher conviction in those estimates," he wrote in a note. 

4. Glenn Greene, Oppenheimer: Cognizant
4. Glenn Greene, Oppenheimer: Cognizant

Oppenheimer's Glenn Greene has an 83% success rate and a 19.1% average return. 

Greene has a "buy" rating on digital consulting firm Cognizant (CTSH - Get Report) and an $80 price target, representing an 18.7% upside. 

Cognizant is "highly attractive" as its offshoring services continue to gain market share in the IT services market, Green wrote in a recent note. In addition, the company has an advantage over competitors with its North American heritage and focus on customers, he said. 

5. Brian Schwartz, Oppenheimer: Instructure
5. Brian Schwartz, Oppenheimer: Instructure

Oppenheimer's Brian Schwartz has a 77% success rate and a 23.7% average return. 

On June 22, Schwartz reiterated his "buy" rating on educational technology company Instructor (INST - Get Report) and raised its price target to $33 from $30, representing a 13% upside. 

Wall Street is underestimating the positive outlook for Instructure's story in the second half of 2017, he wrote in the note. "As our thesis plays out, it has the potential to re-rate INST's valuation multiples higher as sentiment catches up to an improving business story," he said. 

6. Colin Sebastian, Baird: Amazon
6. Colin Sebastian, Baird: Amazon

Baird's Colin Sebastian has an 80% success rate and 24.2% average return. 

On June 22, Sebastian reiterated a "buy" rating on U.S. e-commerce giant Amazon (AMZN - Get Report) with a $1,000 price target, representing 9.6% upside. 

Sebastian said that Amazon's ability to quickly build out its air cargo distribution strategy proves how good the company is at logistics and should give it a further competitive edge over other retailers that must rely on outside carriers. 

7. Brian Fitzgerald, Jefferies: Match Group
7. Brian Fitzgerald, Jefferies: Match Group

Jefferies' Brian Fitzgerald has an 81% success rate and a 23.1% average return. 

On June 22, Fitzgerald reiterated his "buy" rating on Match Group (MTCH - Get Report) , which owns several online dating sites, including Match.com, Tinder, OkCupid, and PlentyOfFish. He gave the company a $23 price target, representing 29% upside. 

The recent weakness in Match Group represents a buying opportunity for investors, he wrote in the note. The company remains one of the firm's top mid-cap picks, Fitzgerald wrote. "We feel the discount is unwarranted given MTCH's consistent double-digit rev growth and strong margin profile, which places them in the top quartile of our coverage," he explained. 

8. Mark Mahaney, RBC Capital: Netflix
8. Mark Mahaney, RBC Capital: Netflix

RBC Capital's Mark Mahaney has a 74% success rate and a 24.2% average return. 

On June 15, Mahaney reiterated a "buy" rating on video streaming giant Netflix (NFLX - Get Report) with a $!75 price target on the shares, representing an 11% upside. 

Netflix is one of the best companies to invest in to take advantage of the upward trend in online video viewing and in Internet-connected devices, he wrote in the note. In addition, the firm's surveys have picked up on increasing customer satisfaction levels for the company. 

9. Vijay Rakesh, Mizuho Securities: Cypress Semiconductor
9. Vijay Rakesh, Mizuho Securities: Cypress Semiconductor

Mizuho's Vijay Rakesh has a 75% success rate and a 30% average return. 

On June 22, Rakesh reiterated a "buy" rating on Cypress Semiconductor Corp.  (CY - Get Report) with a $16 price target, representing 20% upside. 

Cypress continues to be a prime M&A target due to its focus on the automotive and industrial sectors, which is driving improving margins and earnings for the company, he wrote in the note. 

10. Rajvindra Gill, Needham: Smart Global Holdings
10. Rajvindra Gill, Needham: Smart Global Holdings

Needham's Rajvindra Gill has a 68% success rate and a 22% average return. 

On June 23, Gill reiterated a "buy" rating on memory chip maker Smart Global Holdings (SGH - Get Report) and raised its price target to $23 from $20, representing 34% upside. 

The company had a beat for its recent quarterly report that included positive commentary about the global memory pricing environment and demand outlook, he wrote in the note. The company's mobile memory business is also doing well, he said.

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