Wedbush Securities expects another strong year for tech stocks as a growth prospect around cloud, cybersecurity, 5G and peak metaverse, by 2022.
The investment company said that Apple (AAPL) – Get the Apple Inc. (AAPL) report remains his favorite among FAANG stocks: Facebook, now called Meta Platforms (FB) – Get the Class A report from Facebook, Inc., Apple, Amazon (AMZN) – Get the Amazon.com, Inc. report, Netflix (NFLX) – Get the Netflix, Inc. (NFLX) report and google (GOOGL) – Get the Class A report from Alphabet Inc..
The company made the ranking in a memo written by analysts Dan Ives and John Katsingris.
Ives urged investors to recognize that “the story of pent-up demand for Cupertino is still underestimated … with chip issues in our view being a transitory issue.”
Wedbush sees supply chain shortages as a catalyst for a multi-year “supercycle” for Apple’s iPhone 12 and iPhone 13 in the years to come.
Ives added that the global shortage of chips affecting everything from cars and laptops to phones and home appliances is expected to “ease” by the first half of 2022. That will further increase “the story. of fundamental technological demand in the golden age “.
Webush has set an initial goal of 19,000 points for the highly technical Nasdaq in 2022.
Ives and Katsigris have listed Microsoft as their preferred name in cloud stocks.
“Azure’s cloud momentum is still in its infancy within the company’s massive installed base and the transition to Office 365 provides growth winds through 2022,” they wrote.
Wedbush said remote work-related communication is expected to increase from 55% to 43% by the end of 2022, and companies like Amazon, Google and IBM (IBM) – Obtain the International Business Machines (IBM) report will benefit from it.
Ives said cloud spending is expected to reach $ 1,000 billion over the next decade.
The investment firm was also bullish on cybersecurity stocks and chose Zscaler (ZS) – Get the report from Zscaler, Inc.,
Palo Alto Networks (PANW) – Get the report from Palo Alto Networks, Inc., CyberArk Software (CYBR) – Get the report from CyberArk Software Ltd., SailPoint Technologies (NAVIGATE) – Get the report from SailPoint Technologies Holdings, Inc., Fortinet (FTNT) – Get the Fortinet, Inc. (FTNT) report and tenable (TENB) – Get the report from Tenable Holdings, Inc. among his top picks for next year.