7 Goldman Sachs Tech Stocks Still Standing
(TheStreet) -- Goldman Sachs' (NYSE: GS) latest list of "buy"-rated technology stocks include old reliables, such as iPad and iPhone maker Apple (NASDAQ: AAPL) and data-storage company EMC (NYSE: EMC). But it also includes transaction-management-services provider Synchronoss Technologies (NASDAQ: SNCR).
Goldman analysts have been shaken up by the shift in investor sentiment, owing to slower-than-expected U.S. economic growth and a deep hole in European debt that's had some talking about a breakup of the European Union. The global investment bank said in an Aug. 15 research note that expectations for slower global growth and the possibility of a U.S. recession are "clouding our visibility on IT-services stocks as we shift into 2012." As a result, the bank trimmed earnings estimates on the companies in the sector by an average of 3% and cut price targets by an average of 10% to "reflect a more conservative view on 2012 growth."
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