Market shock from Ukraine invasion offers opportunity to buy tech - Wedbush analyst Dan Ives
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Wedbush analyst Dan Ives argued Thursday that the market drop that has accompanied Russia's invasion of Ukraine has provided an opportunity to buy tech stocks, like Oracle (NYSE:ORCL), Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL).
"Geopolitical events like this, shock events, that we've seen over the last 20 years, this has been more the opportunity to own tech if you're able to navigate the risks," the Wedbush Securities managing director told CNBC.
Ives contended that getting through "white-knuckle" market environments like those caused by the Ukraine invasion involves finding winners and defensive names within the tech sector.
Along with established performers like MSFT and AAPL, Ives pointed to areas like cybersecurity, which he thinks will receive a long-term tailwind from increased international tensions. He mentioned Zscaler (NASDAQ:ZS) and Palo Alto Networks (NASDAQ:PANW) as potential buying opportunities.
Longer-term, Ives asserted that the recent plunge in the overall stock market has presented rare entry points for some of the most appealing tech stocks.
"I believe it's the most oversold we've seen tech stocks since 2015," he said.
Ives' comments came as the major averages plunged in Thursday's early action, reacting to news that Russia had invaded Ukraine. While stocks came off their initial lows in the first 45 minutes of trading, the S&P 500 remained lower by about 1.9% at around 10:15 a.m. ET.

Meanwhile, AAPL was down 2%, while MSFT showed a fractional decline. ORCL was sitting just over the unchanged mark. At the same time, volatility levels have spiked in response to the geopolitical crisis.