Welcome to Extreme Investor Network, where we provide unique insights and valuable information for investors looking to make the most out of their investment strategies. Today, we are diving into the must-own tech stocks according to Wall Street analysts, such as Nvidia and Apple, that have the potential to run higher this summer.
According to CNBC Pro, the tech-heavy Nasdaq Composite saw a 2.4% increase this week, bringing its 2024 gain to over 14%. Additionally, the S & P 500 finished the week up more than 1.3%. Among the top tech stocks recommended by Wall Street analysts are Broadcom, Uber, Apple, Datadog, and Nvidia.
Broadcom, as highlighted by Melius Research analyst Ben Reitzes, is considered a “must-own” AI stock with a buy rating. The recent acquisition of VMware by Broadcom in late 2023 is seen as a long-term catalyst, with CEO Hock Tan leading the company on a strong path for future growth.
Datadog, the cloud monitoring platform, is establishing itself as a top-quality large cap stock, according to Bank of America analyst Koji Ikeda. Despite a 10% dip in share price this year, Ikeda believes in the company’s consistent revenue performance and its potential to be a significant beneficiary of artificial intelligence.
Uber is also on the radar as wealthier consumers continue spending, driving shares of the company. Oppenheimer analyst Jason Helfstein points out positive catalysts ahead for Uber, including improved transportation solutions and market expansion, making it a compelling and undervalued stock.
Nvidia, overweight by Wells Fargo, is positioned as one of the most attractive growth stories in large-cap semis, with strong competitive positioning in gaming GPUs and expanding opportunities in data center and AI. Similarly, Apple, rated buy by Goldman Sachs, is highlighted for its strong ecosystem and revenue durability, making it an attractive investment with undervalued potential.
At Extreme Investor Network, we believe in providing valuable insights and unique perspectives on investing opportunities. Stay tuned for more updates on must-own stocks and market trends that could impact your investment decisions.