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) 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) 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) 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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