Big Tech Stocks Poised For 'Gold Medals' As They Ride AI Wave Into Earnings

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Big Tech Stocks Poised For 'Gold Medals' As They Ride AI Wave Into Earnings - Benzinga

Quick Summary:

This week’s upcoming tech earnings will be “a major positive catalyst” for the sector, which should see stocks jump another 15% to 20% for the year, Wedbush analyst Daniel Ives said.“Now the broader tech growth story takes center stage with Big Tech names taking the torch this week aiming for a gold medal with all the Street watching,” he wrote in a note on Monday.

Last week was a bumpy ride for tech stocks as earnings from Alphabet Inc.(NASDAQ:GOOG)(NASDAQ:GOOGL) and Tesla, Inc.(NASDAQ:TSLA) set off a major sell-off that sent chills down investors’ spines.

Big Tech should calm any remaining jitters this week as other top players in the sector show how much they are investing in artificial intelligence in their quests for gold medals, an analyst says.