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Barclays: CDW Top Technology Pick, Apple Still A Favorite

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Ben Reitzes of Barclays on Wednesday commented that CDW Corp (NASDAQ: CDW) is a top technology pick as the company is well positioned grow revenues and earnings through 2016.

Reitzes notes that CDW, unlike other major technology firms like IBM (NYSE: IBM) and Lexmark (NYSE: LXK), has no revenue exposure (and currency tailwinds) to Europe or Asia. The analyst adds IBM and Lexmark could have the biggest hits overall, largely U.S.-based CDW is best positioned with regard to currency.

Reitzes adds that while corporate PC demand will likely fade in 2015, CDW's segments like Healthcare, Federal and Education could post upside.

Reitzes also states that Apple Inc. (NASDAQ: AAPL) is “still a favorite” as checks indicate the company is performing well in the U.S., Europe and China in the near-term while the Apple Watch device and a TV strategy will “drive shares” into 2016.

Shares of CDW were recently down 2.8 percent at $35.27.

Shares of Apple were down about 1 percent at $109.03.

Latest Ratings for CDW

DateFirmActionFromTo
Nov 2019MaintainsEqual-Weight
Aug 2019DowngradesNeutralUnderweight
Jul 2019Initiates Coverage OnBuy

View More Analyst Ratings for CDW
View the Latest Analyst Ratings

Posted-In: Apple TV Apple Watch Asia Barclays Ben ReitzesAnalyst Color News Analyst Ratings

 

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