Apple, Microsoft are 'Rock of Gibraltar names' that will save tech - Wedbush analyst Dan Ives
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Wedbush analyst Dan Ives argued Friday that upcoming earnings releases from Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL) could alter sentiment in the technology sector, becoming the "saviors of tech" by halting the downward pressure that has marked the early part of 2022.

"I look at Microsoft and Apple -- these are just Rock of Gibraltar names and that ultimately they are really going to start to change the tide of this risk-off environment in tech," the Wedbush Securities managing director told CNBC.
Ives contended that tech will see a "clear bifurcation" between winners and losers. The strong performers in 2022 will come from cloud, cybersecurity and chip names. Meanwhile, at-home stocks, which benefited during the pandemic, will come under pressure.
"The work-from-home names, you'll see those multiples continue to compress, just like obviously we're seeing with Netflix," he said.
Netflix (NASDAQ:NFLX) dropped more than 20% in Friday's intraday trading, dragged down by a quarterly report that included disappointing subscriber numbers.
"I think the seas part. And ultimately, we don't view this as the end of a tech rally. We view it more as a bifurcation," Ives said of the recent downturn in tech that has driven the major averages lower in the first few weeks of the year.
Ives referred to MSFT as the "top of the mountain" of cloud beneficiaries, although he said Amazon (NASDAQ:AMZN) would also see strength, thanks to its AWS unit. For cybersecurity, the Wedbush managing director cited Palo Alto Networks (NASDAQ:PANW) and Zscaler (NASDAQ:ZS) as potential standouts.
Looking at the chip space, the analyst pointed to NVIDIA (NASDAQ:NVDA) and Marvell (NASDAQ:MRVL).
Microsoft (MSFT) is scheduled to report its quarterly results next Tuesday. Apple (AAPL) is set to announce financial figures on Thursday.
Ives has maintained his bullish stance towards tech during the recent sell-off, recently calling the downturn a "defining moment" that offers a buying opportunity.