Editors' pick: Originally published March 11.
Given the volatility of this year's stock market, you might assume that the tech sector has been particularly hard hit. In fact, the tech-heavy NASDAQ has weathered the stormy first quarter of 2016 better than the S&P 500 has.
Check out this long track record of picking winners in the fast-moving technology sector. Here's the next in line: Tech Data Corp. (TECD) . The Clearwater, Fla.-based company is one of the world's largest wholesale distributors of technology products and services. Its advanced logistics capabilities and other services enable 120,000 resellers in more than 100 countries to support the various technology needs of their customers.
Tech Data is among a group of growth momentum stocks in the tech sector that should prosper even amid this year's challenging investment conditions.
The firm is notable both for its strong position in the rapidly growing world of cloud computing, and for its relationships with several tech titans, including Apple and Microsoft.
The company's net income jumped 8% for the quarter that ended January 31, from $74.9 million last year to $80.9 million this year, or $2.29 per share. This was an all-time, fourth-quarter earnings-per-share high, easily beating analysts' expectations of about $2.10 per share.
CEO Robert Dutkowsky said on an earnings call that the company's status as a distributor gives it the flexibility to prevail in the ever-changing world of technology. A few years ago, some analysts said that tablets would completely replace laptops, but that hasn't really happened. Dutkowsky keeps scanning the horizon for emerging tech trends like that, and adjust the firm's business relationships accordingly.