AAPL Deemed 2013′s ‘Top Tech Stock’ by Leading Wall Street Watcher

apple in big apple AAPL Deemed 2013s Top Tech Stock by Leading Wall Street WatcherThe new year is hardly 48 hours old and already Apple is dominating headlines for what 2013 will bring.

According to the latest analyst and industry projections, the recently-battered AAPL will be the tech stock to watch this year as the iDevice maker recovers from a stock beat-down that lasted for much of fall 2012.

Brian White of Topeka Capital Markets calls Apple his top tech pick for 2013.

What about last year’s nose dive for AAPL? White blames financial news and general market turmoil for the dip.

“We believe tax-related selling was largely to blame for the downward bias in the stock price as we exited 2012 and this created a negative news cycle around Apple that we believe will be broken as we enter 2013,” White tells investors Wednesday.

“We believe there is still plenty to look forward to at Apple, including the potential for greater choices (i.e., colors, sizes) around the next iPhone in 2013, combined with accelerating momentum with the iPad mini and continued strength with the iPad franchise at large,” he added.

White, however, is isn’t so optimistic about the tech industry at large.

“For 2013,” he says, “we are taking a similar approach to our tech universe, avoiding the more cyclical tech names for the most part and focusing on companies best positioned to benefit from key secular tech trends that we believe are in place this year.”



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