AI Revolution To Drive Better-Than-Expected Q2 Earnings In Tech Sector, Says Wedbush
Portfolio Pulse from Piero Cingari
Wedbush Securities predicts the technology sector to surpass expectations in Q2 earnings, driven by the rapid adoption of AI. Microsoft and Nvidia are identified as standout performers in the AI space. Microsoft's multi-billion dollar investment in OpenAI and Nvidia's new AI products are highlighted. Wedbush analysts predict a new tech bull market, with Microsoft poised to increase its share in the cloud market. Other tech companies like Oracle, Salesforce, and Apple are expected to join Microsoft and Nvidia in investing billions in AI over 2023 and 2024.
July 11, 2023 | 9:01 pm
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POSITIVE IMPACT
Apple is expected to join Microsoft and Nvidia in investing billions in AI over 2023 and 2024.
Apple's expected investment in AI over the next few years could potentially boost its performance in the tech sector.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Salesforce is expected to join Microsoft and Nvidia in investing billions in AI over 2023 and 2024.
Salesforce's expected investment in AI over the next few years could potentially boost its performance in the tech sector.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Microsoft's multi-billion dollar investment in OpenAI is expected to increase its share in the cloud market, potentially expanding its total addressable market around the cloud by 35% to 40% in the next few years.
Microsoft's significant investment in AI and its potential to increase its share in the cloud market makes it a standout performer in the tech sector.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nvidia's strides in AI, including the launch of new products and services, make it a standout performer in the tech sector.
Nvidia's significant strides in AI and the launch of new products and services make it a standout performer in the tech sector.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Oracle is expected to join Microsoft and Nvidia in investing billions in AI over 2023 and 2024.
Oracle's expected investment in AI over the next few years could potentially boost its performance in the tech sector.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Amazon is now playing catch-up with Microsoft in the AI-driven cloud race.
Amazon's position of playing catch-up with Microsoft in the AI-driven cloud race could potentially impact its performance in the tech sector.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Google is now playing catch-up with Microsoft in the AI-driven cloud race.
Google's position of playing catch-up with Microsoft in the AI-driven cloud race could potentially impact its performance in the tech sector.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70