Microsoft Corporation (NASDAQ:MSFT), Verizon Communications Inc. (NYSE:VZ), AT&T Inc. (NYSE:T) are the top three tech stock picks of Jim Cramer. He is counting on these tech stocks to perform better in the upcoming trading sessions.
Microsoft Corporation (NASDAQ:MSFT) is a part of Cramer’s Action Alert Plus portfolio and he traded these stocks last week. He mentioned Microsoft in his top stock picks for Dow 30 and the stock might go up another 15 to 18 percent this year. It was number four in this top Dow’s stock list and he mentioned that the company is trading at 13 times its earnings. At the beginning of the New Year, Cramer was bullish on Microsoft Corporation (NASDAQ:MSFT) expecting the stock to go higher.
Verizon Communications Inc. (NYSE:VZ) comes next in the list of favorite tech stock picks of Jim Cramer and he was bullish on the stocks of wireless carrier last week at the Mad Money show. Verizon Communications Inc. (NYSE:VZ) was in his top 30 Dow stock list, although he mentioned only a 6 percent gain in the stock but emphasized over the higher dividend yield of 4.58 percent. In addition to it, Cramer called it the right stock under the current market circumstances, although he mentioned some price wars related signs on the overall stock performance.
AT&T Inc. (NYSE:T) has made it in the high dividend choices of Jim Cramer along with being a consistent performer in the tech industry. The stock offers dividend of 5.56 percent and it is currently trading at $33.80. With the current pricing wars amid different carriers, Cramer does not expect the stock to get past $38 price target in this fiscal year. AT&T Inc. (NYSE:T) is all set to enter the Mexican market with the acquisition of the third largest Mexican wireless carrier, Iusacell, for $2.5 billion. AT&T Inc. (NYSE:T) has current market cap of $175.32 billion and trades with an average trading volume of 25 million stocks.
This article has been written by Prakash Pandey.