Wedbush: Big Tech looking for the gold medal this week
) all set to report their earnings, the upcoming week is crucial for the tech earnings season, Wedbush analysts said in a note.
"The tech sell-off seen last week will be short-lived as the Street better digests results and commentary from the broader tech sector over the coming weeks during 2Q earnings season,” Wedbush analysts wrote. As its latest report showed, Alphabet is accelerating its spending on the AI cycle, and Wedbush analysts expect similar comments from other Big Tech companies.
With the broader tech growth story now taking center stage, Big Tech names are"taking the torch this week aiming for a gold medal with all the Street watching,” analysts concluded.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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