CNBC Pro takes a look at three of the bank's top picks, including one in the semiconductor sector and a big internet name.
Some Wall Street investors may be cautious on tech right now, especially after the collapse of Silicon Valley Bank. But others are seeing the volatility as an opportunity to snap up some tech stocks . After rallying to start the year, the Nasdaq Composite has lost more than 5% in the past month. Morgan Stanley named its top picks in tech in a March 13 note. Here's what the bank's analysts, which include top strategists such as Mike Wilson, wrote about three of them.
"The other half of the company's business, its data center compute products, are set up for significant share gain in one of the best end-markets in semiconductors, helping the company stand out against peers even in the face of potential customer budget cuts," the bank's analysts wrote. Morgan Stanley gave AMD an overweight rating, and a price target of $87 — a level that the stock reached on March 14.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla Must Reduce Prices More In China, Says Morgan StanleyThe firm believes that the most recent pricing reductions needed to be more aggressive to have a sizable impact, due mostly to the fact that rivals followed suit and cut prices as well
Read more »
Morgan Stanley is testing an OpenAI-powered chatbot for its 16,000 financial advisorsMorgan Stanley's move is one of the first announcements by a financial incumbent after the viral success of OpenAI's ChatGPT.
Read more »
OpenAI launches new AI, saying it is better than ChatGPT; Morgan Stanley one of first customersOpenAI launched a new AI model, GPT-4, Tuesday, adding to the surge in interest for artificial intelligence applications. Among other things, GPT-4 surpasses...
Read more »
Bitcoin Isn’t Trading as a Currency, but as a Speculative Asset: Morgan Stanley.MorganStanley says the Bitcoin network can operate without banks, but BTC's price, and thus its purchasing power, is influenced by fiat central bank policy and it needs banks to facilitate flows into the cryptocurrency market. By willcanny99
Read more »
ChatGPT for financial advice? Morgan Stanley tries AIMorgan Stanley announced it tests OpenAI's ChatGPT for financial advice.
Read more »
Russia: 60-day extension of wartime grain deal acceptableThe UN and Turkey brokered the deal between the warring countries that allows Ukraine to ship food and fertilizer from three of its Black Sea ports.
Read more »