WHAT'S PROPELLING THIS TECH SURGE?

In the realm of tech, it's that time of year again when we eagerly await the last-quarter profit reports. According to those savvy folks at Wedbush, we're in for quite a show.

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Why all the excitement, you ask? Well, they're betting on some groundbreaking AI advancements and a stable IT spending climate that will trigger a colossal tech rally as we approach year-end. If their crystal ball is accurate, tech stocks could climb by another 12%-15% in the final quarter.

Despite a maze of perplexing economic and security challenges, not to mention the recent nerve-wracking global events, these analysts stand firm in their belief that the tech sector is a force to be reckoned with. They're anticipating a profit season that'll give skeptics a run for their money.

These experts aren't just twiddling their thumbs; they're seizing the macroeconomic and Fed-related worries as an opportunity to double down on their bullish tech thesis. And they're not pushing the panic button, just in case you were worried.

What's propelling this tech surge? AI, cloud computing, cybersecurity, and a digital advertising resurgence are the drivers, often overlooked by the market. They're even predicting Federal Reserve rate cuts in 2024, which could ease the obsession with the 10-year yield and bring about a soft landing.

Their focus? Generational AI growth and a whopping $1 trillion in tech spending over the next decade. As for their top tech picks, they've got their eyes on Apple, Microsoft, Palo Alto, Palantir, Zscaler, CrowdStrike, and MongoDB.

And here's the kicker: the AI wave is about to hit the consumer web, starting with cloud services like Amazon's AWS and Alphabet's GCP. Both giants are diving headfirst into AI, incorporating chips and services to cater to their existing customer base.

So, if you're wondering where to place your bets in the tech world, consider Amazon, Alphabet, and Meta. It's going to be an interesting tech ride.