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Earnings Ahead from Dell, Cisco and Techs' Performance Update

Tickers in this article: DELL AMAT INTC GOOG CSCO
NEW YORK ( TheStreet) -- Sandwiched between all the earnings releases from retailers this week are quarterly results from three old name tech stocks that are well below their 1999/2000 bubble highs.

The recent decline in technology shares has been led by weaker than expected quarterly results from other brand name technology companies. One of these companies was not publicly traded during the tech bubble, and three have traded to new all time highs in 2012, well above their bubble peaks.

Weakness in the Computer & Technology sector has that sector trading at fair value according to www.ValuEngine.com.

Here are my buy-and-trade profiles for the technology companies reporting earnings this week:

Cisco Systems (CSCO) ($16.85): Reports earnings after the close today, and is expected to earn 41 cents per share. The stock has a buy rating, is 25.7% undervalued with a forward price-to-earnings ratio of 9.5. The stock is below its 200-day simple moving average at $18.42. The weekly chart is negative with the five-week modified moving average at $17.66 and the 200-week SMA at $19.80. My weekly value level is $16.42 with my annual pivot at $17.43 and annual risky level at $29.93.

Dell (DELL) ($9.35): Reports earnings after the close on Thursday, and they are expected to earn 40 cents per share. The stock has a buy rating, is 42.8% undervalued with a forward P/E of just 5.5. The stock is well below its 200-day SMA at $13.42. The weekly chart profile is negative but extremely oversold with the five-week MMA at $9.70 and the 200-week SMA at $13.81. My weekly value level is $8.35 with a quarterly risky level at $14.21.

Applied Materials (AMAT) ($10.63): Reports earnings after the close on Thursday, and they are expected to earn three cents per share. The stock has a hold rating, is 27.7% undervalued with a forward P/E of 13.9. The stock is well below its 200-day SMA at $11.52. The weekly chart profile is negative with the five-week MMA at $10.92 and the 200-week SMA at $12.31. My weekly value level is $9.80 with a monthly pivot at $10.23 and quarterly risky level at $12.76.

Here are updated profiles and buy-and-trade strategies for tech stocks that got hit following their earnings reports in October.

On Oct. 18 I wrote Trade the Volatility After Earnings Reports and in this story I profiled:

IBM (IBM) ($189.25 vs. $200.63 on Oct. 18): Still has a buy rating, is 10.7% undervalued and has a forward P/E of 11.6. The stock is well above its 1999/2000 bubble high, but well below its 200-day SMA at $198.49 with the July 12 low at $181.85. The weekly chart is negative with the five-week MMA at $195.58 with the 200-week SMA at $151.80. My semiannual value level is $178.43 with a weekly pivot at $191.23 and monthly risky level at $201.39.