Ives Treats Twitterati with His Top Tech Picks – TipRanks

Daniel Ives, Managing Director and Senior Equity Research Analyst of Wedbush Securities, treated Twitterati with his favorite technology picks. Ives is a veteran technology sector specialist, and nothing could be better than a list of his conviction plays in the sector with further break-down from sub-sectors.

As per Ives, the Street has already priced in the mild effects of a recession into the tech stocks, and hence, the risk-reward setup seems to favor the top enterprise players. Ives’ top tech pics remain Microsoft (MSFT), Salesforce (CRM), and Apple (AAPL).

Ives tweeted, “Cloud, cyber security, and high priority pockets of IT budgets are holding up particularly well so far despite macro headwinds.” His top picks from the cyber security space are Palo Alto Networks (PANW), Zscaler (ZS), Tenable Holdings (TENB), Fortinet (FTNT), and CyberArk Software (CYBR).

Lastly, Ives’s list is incomplete without his favorite electric vehicle (EV) maker, Tesla (TSLA), which he believes is one of the most lucrative disruptive tech players. “Street will be focused on 2H trajectory for deliveries and production with China zero Covid issues the well known overhang for April/May,” Ives quoted.

Many on the social networking platform agreed and applauded Ives’ picks, albeit based on the assumption that the recession remains soft. However, a few were even surprised to see Alphabet’s (GOOGL) name missing from the list.

Meanwhile, others did not agree with Ives’s picks and quipped that his calls have lost people money for the last 12 months. The only hands-down winner was Tesla, as fans fully supported the EV shift and called it the best place to park funds in the current scenario.

Technology stocks are the most beaten down in the current macroeconomic uncertainty as investors flee high-growth stocks. Similar to Ives, TipRanks’ tool for Top Analysts Stocks suggests that Wall Street is currently highly bullish on the Technology sector.

The lows witnessed by some of these stocks suggest an attractive investment opportunity. The tech-laden Nasdaq 100 (NDX) is down 31.7% year to date. Meanwhile, the S&P 500 (SPX) is down 23.3% and the Dow Jones Industrial Average (DJIA) is down 18.3% so far this year.

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