5 Technology Stocks That (Almost) Are the Next Apple

Cognizant Technology Solutions

IT service provider Cognizant Technology Solutions (NASDAQ:CTSH) is a leading choice for companies looking to streamline operations or cut costs through outsourcing.

Growth: Cognizant has notched at least 11 straight quarters of year-over-year revenue growth, tracking about 33% sales growth for fiscal 2011. Sales will almost double 2009 numbers. On the earnings side, CTSH has had at least 11 straight quarters of year-over-year growth, with total profits up 20% in 2011 and EPS set to roughly double 2008 numbers.

Cash: Total debt is zero, and cash and short-term investments tally an impressive $2.3 billion.

Performance: Another short-term underperformer with a slight loss in the past 12 months, CTSH has broken out with double-digit returns across January 2012. What’s more, the stock is up about 64% since 2010 to easily double the Dow Jones’ 25% returns in the same period.

Jeff Reeves is the editor of InvestorPlace.com. Write him at editor@investorplace??.com, follow him on Twitter via @JeffReevesIP and become a fan of InvestorPlace on Facebook. Jeff Reeves holds a position in Alcoa, but no other publicly traded stocks.