Can Apple's iPhone 15 Spark a Tech Rally? Analyst Eyes China Growth
Portfolio Pulse from Anusuya Lahiri
Wedbush analyst Daniel Ives highlights Apple Inc (AAPL) as his top tech pick, anticipating a strong iPhone 15 upgrade cycle and robust holiday season sales. He also favors Microsoft (MSFT), Alphabet (GOOG/GOOGL), Amazon (AMZN), Meta Platforms (META), and others, citing the significant impact of AI on tech growth. Ives believes the tech sector will see increased cloud and AI spending into 2024, with tech stocks potentially rising over 20% in the next year.
December 04, 2023 | 7:45 pm
News sentiment analysis
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POSITIVE IMPACT
Apple is Daniel Ives' top tech pick, with expectations of a strong iPhone 15 cycle and holiday sales. China's growth remains a key asset for the iPhone franchise.
The positive outlook on iPhone 15 sales and the strong performance in China are likely to increase investor confidence in Apple, potentially driving the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Amazon's AWS is expected to see massive impact from the AI cycle, with Ives continuing to like Amazon as a tech play.
As AI technology advances, Amazon's AWS is likely to benefit, which could positively influence Amazon's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Alphabet's Google is favored by Ives, especially its cloud service division GCP, which is expected to benefit from the AI cycle.
The focus on AI and cloud services is likely to have a positive impact on Alphabet's stock, particularly as AI spending increases.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Meta Platforms is one of Ives' favorite tech plays, with the tech sector likely to experience a bull market led by AI spending.
The expected increase in AI spending is likely to benefit Meta Platforms, which could lead to a positive impact on its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Microsoft is among Ives' favorite tech names, with the tech sector expected to see increased cloud and AI spending into 2024.
The anticipated increase in cloud and AI spending is expected to benefit Microsoft, which could lead to a positive impact on its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80