In conjunction with our top tech picks for 2012, we also released a list of tech stocks to avoid during 2012. This list is below, along with their summary comments from the most recently published note on each company.

Intel (INTC): “Intel lowered guidance for Q4 on HDD supply disruption. While we acknowledge supply disruption to be severe and likely to worsen in Q1, we see additional negative issues with demand softening for motherboard makers and ODMs while component inventories build downstream.” – Bobby Burleson

LM Ericsson (ERIC): “While Ericsson reiterated its 2010-13 revenue and operating income CAGR targets of 4%-10% and 5%-15%, respectively, management discussed its expectation for continued gross margin pressure over the next several quarters due to sales mix and macro headwinds.” – Michael Walkley

Research In Motion Limited (RIMM): “Consistent with our checks indicating slowing BB 7 sales post the iPhone 4S launch in October, RIM guided Q4/F2012 sales and earnings well below consensus.” – Michael Walkley

Powerwave Technologies (PWAV): “Powerwave reported Q2/11 results in line with our estimates post its recent pre-announcement with weakening sales in all regions. Due to a significant slowdown in spending by North American network operators, a significant reduction in orders from OEMs, and weakness in the Western Europe, Eastern Europe, and Middle East markets, sales declined 55% sequentially and visibility remains limited.” – Michael Walkley

Netflix (NFLX): “While the macro environment appears positive for NFLX, we believe that the company faces numerous challenges, including subscriber losses, rising content costs and an increased competitive landscape.” – Jeff Rath

Intuit (INTU): “Intuit is a very well run and positioned firm. We simply would like to buy the stock a few multiple points cheaper in order to compensate for the risk that the SMB market stays in the dumps longer than expected.” – Richard Davis