Analysts Forecast New Tech Bull Market Despite Economic Worries, Driven by Cloud and AI Spending
-
Wedbush analysts believe a new tech bull market has started despite economic worries, forecasting an acceleration of cloud and AI spending.
-
They expect cloud and AI spending to increase 20-25% in 2024 as use cases expand across enterprises and consumers.
-
Microsoft, Datadog, and Palantir earnings validate the positive impact of AI monetization on tech.
-
AI is seen as the most transformative tech since the internet in 1995, with $1 trillion of AI spending expected over the next decade.
-
Wedbush's favorite tech stocks include Apple, Microsoft, Google, Palo Alto Networks, Palantir, Zscaler, Crowdstrike, and MongoDB.