"There is a new game changer in the works: the Windows 7 release," says Toby Smith, who believes we could be in the early stages of a tech recovery.

In his industry-leading ChangeWave Investing, he adds, "Dell (NASDAQ: DELL) will be one of the biggest beneficiaries of the Windows 7 upgrade cycle."

"In a recent speech, Dell CEO Michael Dell joined the chorus of top tech leaders when he said, 'I think there is a very powerful refresh cycle that is coming.'

"Well, you don't have to believe the CEO of Dell. The ChangeWave Alliance (and its 25,000 members on industry's front line) has been telling us that the tech recovery is building momentum -- and it looks like we could just be in the early stages of a big blast. 

The Alliance's latest consumer PC survey showed planned computer buying had jumped to its highest level in nearly two years -- with more than a 15% increase in projected demand just in the past month, alone. 

"All told, 9% of respondents plan to buy a laptop in the next 90 days and 6% a desktop -- with each percentage up a full point since September. It appears the late October release of Windows 7 is driving much of this momentum. 

"In fact, when we asked planned PC purchasers which operating system they wanted installed on the computer they were buying, 63% chose Windows 7 -- a full 14 points higher than in the September survey. 

"Dell will be one of the biggest beneficiaries of the Windows 7 upgrade cycle, but any boost from consumers will follow the initial surge from corporate customers. One thing is clear. Many consumers were waiting for the Windows 7 release before finalizing their buying decisions.

"On the corporate front (which makes up 80% of Dell's PC business) DELL has shown strength for two consecutive IT spending surveys -- a highly encouraging sign. 

"A lot of Wall Street remains unconvinced that the technology sectors are experiencing the beginnings of a full-scale recovery. There are still widespread doubts about the sustainability of any rebound. 

"But, if this recovery is the real deal, then investors sitting on the sidelines and waiting for confirmation from sheepish media outlets will pay a huge premium when they overcome their angst and finally climb onboard.

"Folks, the probabilities for a full-tilt recovery in technology are increasing each month. Make sure you're positioned in the tech stocks in our portfolio such as Dell."

Below are the top 5 large-cap stocks on the NASDAQ in terms of sales (ttm).

The trailing-twelve-month sales figure for Costco Wholesale Corporation (NASDAQ: COST)(FREE stock trend analysis) is $71.42 billion. COST’s market capitalization is $25.62 billion. Robert W Baird upgraded COST from “neutral” to “outperform.”

The trailing-twelve-month sales figure for Microsoft Corporation (NASDAQ: MSFT)(FREE stock trend analysis) is $56.3 billion. ABC’s market capitalization is $265.22 billion. UBS initiated coverage of MSFT with a “buy” rating.

The trailing-twelve-month sales figure for Dell Inc (NASDAQ: DELL)(FREE stock trend analysis) is $51.43 billion. DELL’s market capitalization is $25.89 billion. AmTech Research upgraded DELL from “neutral” to “buy.”

The trailing-twelve-month sales figure for Apple Inc (NASDAQ: AAPL)(FREE stock trend analysis) is $36.54 billion. AAPL’s market capitalization is $176.92 billion. UBS upgraded AAPL from “neutral” to “buy.”

The trailing-twelve-month sales figure for Comcast Corporation (NASDAQ: CMCSA)(FREE stock trend analysis) is $35.34 billion. CMCSA’s market capitalization is $50.19 billion. CMCSA’s quarterly earnings growth was 22.40% y/y.

Dell added 10-Gigabit Ethernet to its EqualLogic storage line and introduced infrastructure management software in a set of product announcements Thursday to round out its datacenter offerings.

Dell (NASDAQ: DELL) is to launch an Android-based tablet device, possibly beating the rumored Apple (NASDAQ: AAPL) tablet to the market.

The new model, introduced as a competitor to the currently available Archos Internet Tablet and recently announced JooJoo (formerly the CrunchPad), will allow users to surf the Web from a handheld device, bigger than a touchscreen smartphone but smaller than a standard net book.

The details so far are thin on the ground. However, the sources revealed that it will feature a 5-inch screen, run the Android OS and will launch in the UK in 2010 with a more than likely announcement expected at CES 2010 in Las Vegas.

DELL is quiet on this point. However, it stated: "Dell continually develops and tests new products that extend the mobile experience. We have not made any product announcements and do not comment on speculation, rumor, or unannounced products".