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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 72 points (-0.4%) at 17,208 as of Monday, Sept. 22, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 456 issues advancing vs. 2,548 declining with 145 unchanged.

The Technology sector currently sits down 1.5% versus the S&P 500, which is down 0.8%. On the negative front, top decliners within the sector include Vipshop Holdings Ltd ADR ( VIPS), down 5.3%, TripAdvisor ( TRIP), down 4.4%, T-Mobile US ( TMUS), down 3.5%, Xerox Corporation ( XRX), down 3.0% and LinkedIn ( LNKD), down 2.8%.

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

3. SAP SE ( SAP) is one of the companies pushing the Technology sector higher today. As of noon trading, SAP SE is up $0.46 (0.6%) to $74.43 on average volume. Thus far, 583,484 shares of SAP SE exchanged hands as compared to its average daily volume of 810,600 shares. The stock has ranged in price between $74.27-$74.71 after having opened the day at $74.71 as compared to the previous trading day's close of $73.97.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

SAP AG provides enterprise application software and software-related services worldwide. SAP SE has a market cap of $92.4 billion and is part of the computer software & services industry. Shares are down 15.1% year-to-date as of the close of trading on Friday. Currently there are 4 analysts who rate SAP SE a buy, 1 analyst rates it a sell, and 8 rate it a hold.

TheStreet Ratings rates SAP SE as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full SAP SE Ratings Report now.

STOCKS TO BUY: 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, EMC ( EMC) is up $0.38 (1.3%) to $29.91 on heavy volume. Thus far, 24.0 million shares of EMC exchanged hands as compared to its average daily volume of 15.4 million shares. The stock has ranged in price between $29.57-$30.16 after having opened the day at $30.04 as compared to the previous trading day's close of $29.53.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

EMC Corporation develops, delivers, and supports information infrastructure and virtual infrastructure technologies, solutions, and services. It operates in three segments: Information Storage, Information Intelligence Group, and RSA Information Security. EMC has a market cap of $60.3 billion and is part of the computer hardware industry. Shares are up 17.4% year-to-date as of the close of trading on Friday. Currently there are 20 analysts who rate EMC a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates EMC as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full EMC Ratings Report now.

STOCKS TO BUY: 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, Qualcomm ( QCOM) is up $0.43 (0.6%) to $75.96 on average volume. Thus far, 5.0 million shares of Qualcomm exchanged hands as compared to its average daily volume of 8.7 million shares. The stock has ranged in price between $75.28-$76.20 after having opened the day at $75.49 as compared to the previous trading day's close of $75.53.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services based on code division multiple access (CDMA), orthogonal frequency division multiple access (OFDMA), and other technologies. Qualcomm has a market cap of $128.1 billion and is part of the telecommunications industry. Shares are up 1.7% year-to-date as of the close of trading on Friday. Currently there are 18 analysts who rate Qualcomm a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Qualcomm as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, growth in earnings per share and increase in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Qualcomm Ratings Report now.

STOCKS TO BUY: 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).

null

More from Markets

Billionaire Investor Tim Draper Explains Why Bitcoin Will Hit $250,000 in 2022

Billionaire Investor Tim Draper Explains Why Bitcoin Will Hit $250,000 in 2022

To Think a Trade War's Still Just a Threat Is the Dumbest Thing on Wall Street

To Think a Trade War's Still Just a Threat Is the Dumbest Thing on Wall Street

M&A Trends Still on Investors' Minds Despite Worries Over Tariffs -- ICYMI

M&A Trends Still on Investors' Minds Despite Worries Over Tariffs -- ICYMI

Dow Falls as U.S. Imposes Tariffs on $50 Billion of Chinese Goods

Dow Falls as U.S. Imposes Tariffs on $50 Billion of Chinese Goods

General Motors Spikes on Report It's Considering Listing Shares of Cruise Unit

General Motors Spikes on Report It's Considering Listing Shares of Cruise Unit