3 Technology Stocks Driving The Sector Higher

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 16 points (0.1%) at 16,738 as of Wednesday, June 4, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,399 issues advancing vs. 1,611 declining with 145 unchanged.

The Technology sector currently sits up 0.3% versus the S&P 500, which is up 0.1%. Top gainers within the sector include VimpelCom ( VIP), up 4.7%, Telecom Italia SpA ( TI.A), up 2.3%, Broadcom ( BRCM), up 2.3%, Telecom Italia SpA ( TI), up 2.3% and Applied Materials ( AMAT), up 1.3%. On the negative front, top decliners within the sector include Telekomunikasi Indonesia (Persero) Tbk ( TLK), down 1.6%, Sap ( SAP), down 1.2%, Infosys ( INFY), down 1.1%, China Telecom ( CHA), down 1.0% and America Movil SAB de CV ( AMOV), down 0.9%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. Micron Technology ( MU) is one of the companies pushing the Technology sector higher today. As of noon trading, Micron Technology is up $0.30 (1.0%) to $28.97 on light volume. Thus far, 6.6 million shares of Micron Technology exchanged hands as compared to its average daily volume of 29.0 million shares. The stock has ranged in price between $28.47-$28.97 after having opened the day at $28.58 as compared to the previous trading day's close of $28.67.

Micron Technology, Inc., together with its subsidiaries, manufactures and markets semiconductor solutions worldwide. Micron Technology has a market cap of $30.7 billion and is part of the electronics industry. Shares are up 31.8% year-to-date as of the close of trading on Tuesday. Currently there are 12 analysts who rate Micron Technology a buy, 3 analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Micron Technology as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full Micron Technology Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

2. As of noon trading, Google ( GOOGL) is up $2.94 (0.5%) to $557.45 on light volume. Thus far, 934,844 shares of Google exchanged hands as compared to its average daily volume of 3.2 million shares. The stock has ranged in price between $548.56-$558.40 after having opened the day at $551.52 as compared to the previous trading day's close of $554.51.

Google Inc., a technology company, builds products and provides services to organize the information. Google has a market cap of $159.0 billion and is part of the internet industry. Shares are down 1.4% year-to-date as of the close of trading on Tuesday. Currently there are 26 analysts who rate Google a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Google as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and feeble growth in the company's earnings per share. Get the full Google Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

1. As of noon trading, Facebook ( FB) is up $0.43 (0.7%) to $63.30 on light volume. Thus far, 23.4 million shares of Facebook exchanged hands as compared to its average daily volume of 68.4 million shares. The stock has ranged in price between $62.07-$63.51 after having opened the day at $62.45 as compared to the previous trading day's close of $62.87.

Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications. Facebook has a market cap of $125.8 billion and is part of the internet industry. Shares are up 15.0% year-to-date as of the close of trading on Tuesday. Currently there are 32 analysts who rate Facebook a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Facebook as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. Get the full Facebook Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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