By Ian Wyatt, Top Stock Insights

The launch of a smaller, 7-inch version of the iPad from Apple would be excellent news for two stocks that we recommend as Apple-related ideas.

Avago (AVGO) makes hardware that goes into iPhones. And F5 Networks (FFIV) makes wireless networking more efficient. Both are great technology stocks and both are investments that take advantage of Apple's success.
Half of all adult Americans now own either a tablet or a smartphone, according to a survey by the Pew Research Center. Moreover, a third uses those devices to view news and video once per week.

F5 Networks is our favorite way to invest in the growth of Apple and the smartphone takeover. The huge growth of smart phones -- such as the iPhone -- along with devices such as the iPad is putting a tremendous strain on wireless networks.

The current wireless network is stretched thin. Just think of the bandwidth issues that may arise when 50% of device users access video just once per week.

FFIV makes wireless networking more efficient. It works with wireless providers to enhance hardware and software compatibility so users can access video and online content faster.

Meanwhile, two Avago devices, AFEM-7813 dual-band LTE B1/B3 PA+FBAR duplexer module and the A5613 ACPM-5613 LTE band 13 power amplifier, are in the iPhone 5.

Because Avago has won Apple contracts several times in the past two years, we think that the company will find a way into the new iPad.

Not only does Avago offer extremely power-efficient devices, they are built small. Size will be important to Apple. The new iPad, after all, is supposed to be a mini.

Our FFIV price target is $120, roughly 20% above the current level. Meanwhile, AVGO carries a $44 target price, substantially above the current $34 share price. So I'm seeing plenty of potential for both positions.

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