3 Tech Stocks to Watch for QE3 (Update)
Apple(AAPL) is likely to benefit thanks to its significant overseas revenue, especially considering continued weakness in Europe, which Apple cited as a reason for its earnings miss in its third quarter. "Apple's international revenue was 61% in 2011, up from 56% in 2010," Evercore Partners analyst Ken Cihra said in an interview with TheStreet earlier this year.
"Clearly a weaker dollar would help Apple," Cihra said.
From Nov. 25, 2008, to March 31, 2010, Apple gained 146.3%, according to Google Finance. From Nov. 5, 2010 to June 30, 2011, shares gained 8.6%. IBM
Evercore Partners' Cihra also sees IBM(IBM) as well positioned.
IBM's second-quarter revenue was $25.78, as the company noted currency pressures weighed heavily on the Dow component's top line. This missed Wall Street's forecast of $26.27 billion. IBM's expenses are in dollars, so a weaker dollar helps IBM, Cihra noted.
The tech giant's Americas' revenue for the quarter was $11.1 billion, a decrease of 1% percent, while EMEA revenue plunged 9% to $7.9 billion. Asia-Pacific revenues increased 2% to $6.3 billion.
From Nov. 25, 2008 to March 31, 2010, IBM shares gained 59%, according to Google Finance. From November 5, 2010 to June 30, 2011, shares gained 22.1%. VMware