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As Apple Falters, This Little-Known Tech Giant Is Set to Take Off

Apple shareholders are probably tempted to hit the Xanax these days after it released a troubling fiscal second-quarter earnings report on Tuesday.

Anxiety levels weren't helped when Carl Icahn, the billionaire investor, said on CNBC Thursday that he had sold his entire stake of slightly less than 1% in the technology giant, citing slowing demand in China for the company's products.

Coming on the heels of Apple's first reported year-over-year revenue decrease in 13 years, his stunning news sent investors in the company and the tech sector running for the exits.

Investors looking for a growth opportunity in the sector that won't subject them to daily stress should consider an often-ignored electronics giant that hardly gets any press: Harris (HRS - Get Report) , an international communications and information technology company.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. See how Cramer rates the stock here. Want to be alerted before Cramer buys or sells AAPL? Learn more now.

Must Read: Apple Launches CareKit Apps

Harris is positioned to generate reliable capital appreciation from the resurgence in aerospace and defense by virtue of its innovative products and client diversification. The stock also pays a nice dividend.

With a market capitalization of $9.98 billion, Harris is considerably smaller than Apple, whose market cap of $525.79 billion makes it the most valuable company in the world. But that means that Harris has considerably more room for growth over the long haul.

Harris is scheduled to report fiscal third-quarter earnings on Tuesday. Those seeking stability in a volatile tech sector should be assured that Harris is on track for uninterrupted earnings growth from now until the end of next year, fueled by persistent multi-year demand for commercial and defense electronics.

The average analyst consensus quarterly estimate is for earnings of $1.39 a...


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