This post is part of a report entitled "Six-pack of technology favorites." You can read about the other top tech stock picks here.

"I think Wall Street has made a poor assessment of Analog Devices (NYSE: ADI)," says Paul McWilliams. Here's a look at the chip maker from his technology-focused newsletter, Next Inning.

"Analog Device's top line guidance came in a bit below Wall Street expectations. However, I think the problems are between the Hudson and East Rivers and not in Norwood, Massachusetts, the hometown of Analog.

"What Wall Street appears to be missing is that since ADI has sold off some of its lower profit business units, its seasonal sales patterns have changed. ADI is now again driven by industrial market sectors much more than it was even just last year.

"Therefore, its conservative guidance of flat to up 3% sequentially shouldn't have been a big surprise nor a cause for concern. As a matter of fact, with its minimal exposure to PC and consumer markets, I think flat to up 3% is pretty good.

"What Wall Street would be better to focus on are the operational improvements ADI has made. In its July quarter, ADI improved its pro forma operating margin to 26.5% from 26.2% last quarter and again reduced its inventory, which sits now at the lowest level we've seen since 2004.

In Next Inning newsletter, technology stock guru Paul McWilliams sees weakness in Hewlett Packard (NYSE: HPQ) as an opportunity to buy "one of the best-managed large cap tech companies in the world."

"Following Mark Hurd's appointment as CEO back in 2005, we turned cautiously bullish on the shares. It didn't take long to realize that he was not only making the right decisions, but also executing them swiftly and effectively.

"Hurd hit the ground running, trimming fat and restructuring both internal and sales channel operations. The net results were rapidly growing sales, improved profitability and a much higher stock price.

"Now, in line with our earnings preview, Hewlett Packard announced results that were better than the consensus expectation of the covering analysts; HPQ also raised its full year guidance.

"However, the real news is the company's intention to purchase EDS for $13.9 billion. The news of the acquisition has knocked the stock down to a level that represents a clear value opportunity.

"In my view, this is a brilliant move by HPQ and that the negotiated price represents a solid value for HPQ. I believe this represents an opportunity for investors to buy one of the best-managed large cap tech companies in the world at a clear value price."

Each day, Steven Halpern's TheStockAdvisors.com offers the latest market commentary and favorite investment ideas from the nation's leading financial newsletter advisors.