3. VMWare ( VMW) Company Profile: VMWare is the world's largest virtualization-software vendor for server operating systems. EMC owns about 80% of the company. 2011 Return: 8.5% Market Cap: $12 billion Potential Upside: 29.6% to $125 2. Aeroflex Holding ( ARX) Company Profile: Aeroflex Holding is a manufacturer of radio frequency (RF) and microwave integrated circuits, components and systems used in high-performance wireless-communication systems. Aeroflex was downgraded to "underweight" from "equalweight" on Monday by Morgan Stanley (MS), which cites defense spending cuts, and lower longer-term industry spending and the low probability of it achieving its earnings guidance in the second half of next year as the reasons for the change. 2011 Return: down 35% Market Cap: $850 million Potential Upside: 31.8% to $14 1. Apple ( AAPL) Company Profile: Apple designs consumer electronic devices, including PCs (Mac), tablets (iPad), phones (iPhone) and portable music players (iPod). Its iTunes online store is the largest music distributor in the world. 2011 Return: 22% to $520 Market Cap: $366 billion Potential Upside: 32% to $520 >>To see these stocks in action, visit the Goldman Sachs' Top Tech Stocks for 2012 portfolio on Stockpickr.
Aeroflex (ARX) surged more than 25% to a one-year high of $10.47 on Tuesday after British aerospace and defense supplier Cobham announced it would purchase the U.S. communications equipment manufacturer for $920 million.
Acquisitive U.K. aerospace company Cobham on Tuesday agreed to buy Plainview, N.Y-based Aeroflex Holding for $1.5 billion in cash and debt to further expand its communications business and offer new markets for the target's products.
Shares of Aeroflex Holding (ARX) are up over 24% in pre-market trade after it was announced that the wireless communications firm entered into a merger agreement with U.K.-listed Cobham in a deal valued at $920 million.