3 Technology Stocks Moving The Sector Upward

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 67 points (0.4%) at 16,436 as of Friday, Aug. 8, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,992 issues advancing vs. 961 declining with 169 unchanged.

The Technology sector currently is unchanged today versus the S&P 500, which is up 0.4%. Top gainers within the sector include Mercadolibre ( MELI), up 14.7%, Youku Tudou ( YOKU), up 7.5%, NVIDIA ( NVDA), up 7.0%, Ubiquiti Networks ( UBNT), up 6.8% and KT Corporation ( KT), up 3.2%. On the negative front, top decliners within the sector include Computer ( CSC), down 6.7%, SolarCity ( SCTY), down 3.9%, BT Group ( BT), down 2.0%, BCE ( BCE), down 1.4% and Cognizant Technology Solutions ( CTSH), down 1.4%.

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

3. Baidu ( BIDU) is one of the companies pushing the Technology sector higher today. As of noon trading, Baidu is up $1.19 (0.6%) to $214.70 on light volume. Thus far, 1.1 million shares of Baidu exchanged hands as compared to its average daily volume of 3.2 million shares. The stock has ranged in price between $213.00-$215.80 after having opened the day at $214.39 as compared to the previous trading day's close of $213.51.

Baidu, Inc. provides Internet search services. Baidu has a market cap of $75.4 billion and is part of the internet industry. Shares are up 20.0% year-to-date as of the close of trading on Thursday. Currently there are 11 analysts who rate Baidu a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Baidu as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full Baidu 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, Micron Technology ( MU) is up $0.37 (1.2%) to $30.05 on average volume. Thus far, 12.3 million shares of Micron Technology exchanged hands as compared to its average daily volume of 27.1 million shares. The stock has ranged in price between $29.62-$30.21 after having opened the day at $29.85 as compared to the previous trading day's close of $29.68.

Micron Technology, Inc., together with its subsidiaries, manufactures and markets semiconductor solutions worldwide. Micron Technology has a market cap of $32.9 billion and is part of the electronics industry. Shares are up 36.5% year-to-date as of the close of trading on Thursday. Currently there are 16 analysts who rate Micron Technology a buy, 1 analyst rates it a sell, and 4 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.

1. As of noon trading, Amazon.com ( AMZN) is up $2.51 (0.8%) to $313.96 on light volume. Thus far, 1.3 million shares of Amazon.com exchanged hands as compared to its average daily volume of 4.0 million shares. The stock has ranged in price between $310.66-$314.95 after having opened the day at $311.94 as compared to the previous trading day's close of $311.45.

Amazon.com, Inc. operates as an online retailer in North America and internationally. The company operates in two segments, North America and International. Amazon.com has a market cap of $145.0 billion and is part of the retail industry. Shares are down 21.9% year-to-date as of the close of trading on Thursday. Currently there are 19 analysts who rate Amazon.com a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Amazon.com 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 expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and relatively poor performance when compared with the S&P 500 during the past year. Get the full Amazon.com 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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