TECH - Why Microsoft Alphabet Amazon Palantir And Meta Could Rise 15% In 2024 According To Analyst | Benzinga
As the tech sector braces for its upcoming earnings season, Wedbush Securities analyst Daniel Ives provides a bullish outlook.
Tech Sell-Off – A Compelling Buying Opportunity
He foresees a potential 15% surge in key stocks including Microsoft Corp (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG), Amazon.com Inc (NASDAQ:AMZN), Palantir Technologies Inc (NYSE:PLTR), and Meta Platforms Inc (NASDAQ:META).
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Ives views the recent risk-off environment and tech sell-off as a compelling buying opportunity, attributing the market downturn to concerns such as a hot Consumer Price Index (CPI), weak bank earnings, and geopolitical tensions.
Over the past month, the SPDR Technology Select Sector ETF (NYSE:XLK) is down 2.63%. The broad market S&P 500 tracking SPDR S&P 500 ETF (NYSE:SPY) is down 1.16% over the same period.
However, he believes the spotlight will soon shift to ...