FTNT - Apple software & security should be bought 'aggressively' as rate hikes baked in: Wedbush

Apple (NASDAQ:AAPL), certain software stocks like Microsoft (NASDAQ:MSFT) and Oracle (NYSE:ORCL) and cyber security stocks such as Palo Alto Networks (NASDAQ:PANW) and Zscaler (ZS) should be bought "aggressively" as interest rate hikes are "baked in" and the tech sector is the most oversold it's been since 2015, according to Wedbush Securities analyst Dan Ives. Ives, who lists Apple (AAPL) as the top tech name to own and has a $200 price target on the stock, noted that tech stocks have sold off on the expectations that the Federal Reserve will raise interest rates six more times this year and three in 2023. Investors are fearing the worst, with Ives going so far as to say "[New York City] cab drivers know about the Fed tightening, which could lead to a fundamental slowdown in technology. But that's not likely to happen, as Ives believes "[first-quarter] earnings will be a positive catalyst

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Apple, software & security should be bought 'aggressively' as rate hikes baked in: Wedbush