TECH - Tech Bull Shares Top Stock Picks For Second Half Of 2024 After AI-Fueled Rally: Do You Own These Stocks? | Benzinga
The technology sector, propelled by the impetus provided by artificial intelligence, was the driving force behind the first-half stock market rally. Despite growing fears of a correction, a bullish analyst suggested on Friday that the rally will go on unhindered.
Just Getting Started: “It’s only 9 pm and the AI-driven tech bull party goes till 4 am,” said Wedbush analyst Daniel Ives in a note.
The analyst said his global fieldwork showed that the AI revolution has just begun with Nvidia Corp. (NASDAQ:NVDA) and Microsoft Corp. (NASDAQ:MSFT). The second, third, and fourth derivates of the revolution will start to play out over the next 12 to 18 months, he said, adding that a “tidal wave of $1 trillion of spending will come to the shores of the tech sector.”
Delving into the first-half performance of the tech stocks, Ives said they have had a very strong run, led primarily by big ...