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

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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