As investors turn increasingly bullish on tech, here's where Goldman Sachs, Wells Fargo and a slew of fund managers advise putting your money.
Investors are flocking back into tech, after shunning the sector for the better part of 2022 amid broad risk-off sentiment. The tech-heavy Nasdaq Composite has been the best-performing Wall Street index in 2023, having gained about 15.6% since the start of the year. That's a stark turn of fortune for the index, which was the worst performer of 2022 with a 30% decline. Investors are also cheering what they see as a more dovish stance by the U.S.
" Meanwhile, Bernstein and Wells Fargo count Google parent Alphabet among their top picks in the internet space. Microsoft, Fortinet, Zoom Within the cloud space, Microsoft remains a top pick for many on Wall Street, despite issuing a lackluster revenue forecast for the current quarter last month . Some 87% of analysts covering the stock rate it a "buy," according to FactSet data, and give it average upside of 10.3%.
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