JPMorgan Makes Key Tech Upgrades & Downgrades (AAPL, IBM, HPQ, EMC, DELL, LXK, NTAP)

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By Douglas A. McIntyre Published

JPMorgan has come out with some changes in its technology and imaging sector today.  The firm wants to be defensive right now with steady revenue streams and steady margins.  It is cautious on PC sales, printing, and servers.

Apple Inc. (NASDAQ: AAPL) and IBM (NYSE: IBM) were both raised to Overweight from Neutral.

The firm is positive on storage on a relative basis to other spots in tech right now.  Hewlett-Packard (NYSE: HPQ) and EMC Corp. (NYSE: EMC) were also maintained overweight ratings.

PC-maker Dell Inc. (NASDAQ: DELL) was kicked while it’s down as shares were downgraded to Neutral from Overweight as it continues to struggle and lag.  Lexmark (NYSE: LXK) saw its shares downgraded to Underweight from Neutral.  NetApp (NASDAQ: NTAP) was downgraded to Neutral from Overweight.

Jon C. Ogg
October 15, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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