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Although macroeconomic factors and geopolitical tensions are weighing on investor sentiment today, the stock market typically gains momentum after the start of earnings season. Wedbush analyst Dan Ives, for one, predicts that tech earnings this month will boost the sector by 12% to 15% for the remainder of the year.
Smart investors generally take advantage of a distressed market to buy high-quality growth stocks at a dip. The majority of the tech stocks that Wedbush analyst currently favors are the ones that have so far fueled the market's huge gain in 2023 amid the artificial intelligence (AI) boom. Crowdstrike Holdings (CRWD), Meta Platforms (META), Amazon (AMZN), Microsoft (MSFT), and Alphabet (GOOGL) have stood out this year with their AI-driven efforts to gain a competitive edge in this fast-paced niche - and that's reflected in their stock returns, as follows:
