In a CNBC interview, Dan Ives, Wedbush Securities’ global head of tech research, highlighted cybersecurity as a severely undervalued subsector poised to outperform in 2024. He named CrowdStrike, Zscaler, Palo Alto, and Check Point as key beneficiaries of cloud-driven demand. Ives also expressed strong bullishness on IBM, citing CEO Arvind Krishna’s AI-focused strategy as a catalyst for a ‘renaissance.’ He believes both cybersecurity and IBM are mispriced by the market, offering significant upside potential.
about Cybersecurity & IBM Set for Breakout Year: Dan IvesArvind Krishna
0 posts last weekStock Market Update Earnings Impact Major Companies and Economic Indicators
Investors reacted to earnings reports, with IBM surging 13% after beating expectations, while UPS plummeted 14.1% due to a bleak outlook and a significant drop in shipping volume from Amazon. The Dow rose 0.4%, and the S&P 500 gained 0.5%, reflecting solid economic data and ongoing adjustments to corporate guidance. Microsoft and Tesla faced mixed results, with Microsoft down 6.2% despite beating earnings, while Meta and Nvidia showed resilience ahead of their earnings announcements.
about Stock Market Update Earnings Impact Major Companies and Economic IndicatorsStock Market Update: Earnings Reports and Economic Data Influence Futures
U.S. stock futures are mostly higher as investors await GDP data, with Nasdaq futures up 0.5%. Apple is expected to report revenue growth, while Tesla shares rise on advancements in self-driving technology. Meta’s stock gains after strong revenue growth, contrasting with Microsoft’s decline due to disappointing cloud sales. IBM surges 9% following better-than-expected earnings driven by its AI business.
about Stock Market Update: Earnings Reports and Economic Data Influence FuturesTech Stocks Poised for Gains as Trump Returns to the White House
The return of President-elect Donald Trump is expected to boost the “Magnificent Seven” tech stocks, which have driven significant gains in the S&P 500. Analysts predict a favorable environment for companies like Nvidia, Microsoft, Tesla, and Alphabet due to anticipated regulatory rollbacks and increased investment in artificial intelligence.Investors are advised to focus on stocks that will benefit from changes in regulation and tax policies, with Tesla, Palantir, and Amazon highlighted as key winners. Industry leaders express optimism for innovation and a more favorable deal environment under the new administration.
about Tech Stocks Poised for Gains as Trump Returns to the White House