#9: Hewlett-Packard (HPQ)
Hewlett-Packard (HPQ) was left for dead at the end of 2012, but CEO Meg Whitman has made many believers across the last 12 months as this stock has doubled when you account for dividends. Sure, 2013 saw continued revenue declines at the struggling tech giant as it continues to evolve beyond laptop and printer sales. But investors seem to believe in the evolution … or at least they think the doom-and-gloom crowd is overdoing it.
It’s easy to see why some traders were willing to take a shot on this value play turning around. Even now, Hewlett-Packard stock trades for a forward earnings multiple of about 7.5 right now — roughly half the average for tech stocks. It also yields about 2% even after this run, with a dividend that’s just 16% of next year’s earnings. That means plenty of headroom for a dividend increase in 2014. Throw in $12.1 billion in cash and operating cash flow north of $10 billion annually and you have a compelling case for stability in HPQ, even if revenue remains challenged in a post-PC age.