"We live in a networked world. And much of the backbone of that wired and increasingly wireless data/voice/video network is built on equipment produced by Cisco Systems (CSCO)," says Stephen Leeb.

The editor of Leeb's Income Performance Letter explains, "A colossus of the technology sector, it's the market leader in each of its business segments, including area networks, routing, switching, wireless LANs, web conferencing and digital video.

"Fossil fuel prices are once again on the rise, and not so coincidentally, demand has been growing as well for solar energy modules," notes Stephen Leeb.

The editor of The Complete Investor observes, "So you would think manufacturers of photovoltaic (PV) cells and systems would be winning the favor of investors as well. But that hasn't been the case-far from it.

"Rather, shares of many solar manufacturers, including Suntech Power (STP), have been hitting the skids.

"Oil had a good year in 2010, rising 15 percent, and 2011 looks to be even better, as a stronger global economy pushes demand for resources higher," says Stephen Leeb.

The editor of The Complete Investor explains, "Oil service and equipment companies are the most leveraged way to play rising oil prices. Here's a look a Schlumberger (SLB) and National Oilwell Varco (NOV).

"First is Schlumberger, operating in more than 80 countries. The company is the world's leading supplier of energy technology, project management, and information solutions.

This post is one in a series in which more than 60 newsletter advisors share their Top Stock Picks for 2011. This special report is courtesy of TheStockAdvisors.com.

"NovaGold Resources (NG) -- my top pick for 2011 -- is an up-and-coming mining outfit that owns a pair of world-class deposits," says Stephen Leeb.

The editor of The Complete Investor explains, "It has partnered with a couple of industry heavyweights to develop these projects, and it has the backing of some of the savviest investors around, giving it the wherewithal that will enable the company to transition from junior explorer to mid-tier producer in a few short years.

"While the past decade has been tough on investors, some stocks have stood out and managed to soar," notes growth stock specialist Stephen Leeb, adding "Indeed, both Amazon (AMZN) and Apple (AAPL) -- which are both holdings in our growth portfolio -- recently hit all-time highs."

The editor of The Complete Investor explains, "These two stocks don't say much about tech itself, which, is a slow-growth area. Rather they demonstrate the power of a franchise.

"Further, these are not just any franchises, they're ones that uniquely affect consumer productivity and enjoyment.

"As consumers continue to upgrade to high-end smartphones, they are paying more and more for each device," says Stephen Leeb.

The editor of The Complete Investor explains, "In turn, this is helping Qualcomm (QCOM), which receives licensing royalty for the average price of the phones running its chips.

"Recently reported earnings were quite impressive. Company sales rose 9.7 percent year over year to $2.95 billion, outpacing consensus estimates of $2.85 billion.

"It's been tough going for Lockheed Martin (LMT) in 2009-10, as well as for defense stocks overall," notes Stephen Leeb.

The editor of Leeb's Income Performance Letter explains, "Investors are concerned about the impact cutbacks in defense spending will have on profits. Still, the company arguably is the best positioned of the major defense contractors to weather a smaller defense budget.

"The company is bracing for leaner times and has taken cost-savings measures, such as offering early retirement incentives to executives. And its share price appears to have more than discounted any cuts that may come down the pike.

"Some information technology areas have more dynamic growth prospects than others; a prime example is the emerging field of cloud computing," says growth stock specialist Stephen Leeb.

The editor of The Complete Investor explains, "One company in the forefront of this cutting-edge approach to information storage and management is EMC (EMC), a leader in digital data storage.

"Cloud computing refers to the storing of digital information -- documents, spreadsheets, software, etc. -- not on a company's or individual's own hard drive but in remote data centers, from which it can be accessed via the Internet.

"With the new school year underway, we're adding an attractive REIT to our portfolio that specializes in campus housing: American Campus Communities (ACC)," says Stephen Leeb.

The growth & income specialist and editor of The Complete Investor explains, "The real estate investment trust, which went public in 2004, has been providing housing for college students since 1993, and is now one of the nation's largest developers, owners, and managers of high-quality student housing communities.

"The REIT has grown both through internal development and via acquisitions, most notably its 2008 purchase of the student housing division of GMH Communities Trust for around $1.4 billion.

"Qualcomm (QCOM) is benefiting from consumers' continued love affair with mobile phones," notes growth stock specialist Stephen Leeb.

The editor of The Complete Investor explains, "The San Diego-based company licenses mobile technologies to cell phone manufacturers; its royalties rise as phone prices go up.

"In the latest quarter the company beat expectations, and going forward it forecasts strong unit sales and higher average prices as well.

"With many stocks so clearly undervalued, we set ourselves the goal of finding some with the potential to double or better over the next 18 to 24 months," says Stephen Leeb.

The editor of The Complete Investor adds, "Two such gems are metals plays -- Silver Wheaton (SLW), a more conservative play in our growth portfolio, and NovaGold Resources (NG), a more speculative holding in our small-cap value portfolio.

"These two metal picks are both leveraged to precious metals, one to silver and one to gold.

"Wal-Mart (WMT), a buy recommendation in our model growth portfolio and the largest retailer in the world, recently reports its second-quarter earnings," notes Stephen Leeb.

The growth stock specialist and editor of The Complete Investor explains, "Earnings per share were up 9 percent -- and, more important, the company increased its EPS guidance for the full year; the company is now expecting to make from $3.95 to $4.05, exceeds its earlier forecast of $4 profit for the year.

"Managing waste is about as far from glamorous as you can get. But it's essential, and offers relatively reliable growth and defensive qualities that should appeal to conservative investors," says growth stock expert Stephen Leeb.

The editor of The Complete Investor explains, "Waste Management (WM) is the largest waste-management operator in the U.S. and Canada, with about a 25 percent market share.

"Pharmacy benefits managers (PBMs) are the main distributors of drugs to retail pharmacies and directly to consumers; in our view, the PBM sector is a must-have health care area for investors," says Stephen Leeb.

The editor of The Complete Investor explains, "Express Scripts (ESRX) is a leading and fast-growing pure-play PBM that has been generating impressive results and is undervalued relative to the industry.

"One striking health care trend in recent years has been a dramatic rise in prescriptions. For the 10 years ended in 2009, according to a government study, the number of prescription drugs dispensed in the U.S. rose 39 percent, while U.S. population growth was just 9 percent.

"When it comes to banking, many people never encounter a human teller anymore; instead, banking is often done using ATMs, the internet and via smart phones; with a presence in 90-plus countries, Diebold (DBD) likely plays a role in those financial self-service transactions," observes growth and income specialist Stephen Leeb.

The editor of Leeb's Income Performance Letter explains, "The 151-year old company, a new recommendation in our Growth & Income Portfolio, holds a commanding position in the market for ATMs.