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10 Tech Predictions for 2022: Nasdaq at 19K, Apple AR/VR Glasses, Metaverse Becomes Reality and More

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Notwithstanding near-term weakness, tech stocks are on a multiyear rally, giving rise to fears of a long-overdue correction, Wedbush analyst Daniel Ives said in a note.

The near-term sell-off, the analyst said, is a painful digestion period, along with a reaction to omicron fears.

The Street has also begun discounting a tighter Fed and a constrained valuation framework for tech stocks, he said. 

“We remain firmly bullish on tech stocks for 2022,” Ives noted.

Here are Wedbush’s top 10 tech predictions for the year 2022:

1. Apple AR/VR Glass: Apple, Inc. (NASDAQ:AAPL) is expected to launch its long-awaited AR/VR headset Apple Glasses in the summer of 2022. This will serve as a major growth catalyst for Apple shares by way of providing scope for the further monetization of the company’s installed base, the analyst said.

2. Nasdaq Year-End Target: Wedbush’s year-end 2022 target for the Nasdaq Composite Index is 19,000 thanks to the digital transformation among enterprises and consumers. The underlying growth prospects for the tech sector are 2-3 times the normalized/historical patterns, the firm said.

3. Metaverse From Hype To Reality: The metaverse will morph from hype to reality as more tech stalwarts such as Meta Platforms, Inc. (NASDAQ:FB), Apple, Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) and Microsoft Corporation (NASDAQ:MSFT) heavily invest billions in this theme over the next year, Ives said. The analyst expects significant M&A activity on this front.

4. Spike In Cybersecurity Budgets: Ives expects cybersecurity budgets to increase by 21% in 2022, up about 100 basis points year-over-year from a robust 2021. Among Wedbush’s favorite cybersecurity plays for 2022 are Zscaler, Inc. (NASDAQ:ZS), Tenable Holdings, Inc. (NASDAQ:TENB), CyberArk Software Ltd. (NASDAQ:CYBR), Varonis Systems, Inc. (NASDAQ:VRNS), SailPoint Technologies Holdings, Inc. (NYSE:SAIL), Fortinet, Inc. (NASDAQ:FTNT) and Palo Alto Networks, Inc. (NASDAQ:PANW).

Related Link: Will Apple Hit $3 Trillion Market Cap This Week?

5. M&A Activity To Surge: The year 2022 will see a surge in M&A among both strategic/financial buyers, Ives said. The top 5 M&A candidates for 2022, according to the analyst, are Cerence Inc. (NASDAQ:CRNC), Matterport, Inc. (NASDAQ:MTTR), Varonis, Rapid7, Inc. (NASDAQ:RPD) and Sailpoint.

6. Chip Shortage To Ease: The chip shortage out of Asia will significantly abate in the first half of 2022 and remove a major overhang on the tech sector, according to Wedbush. 

“We view Apple and chip players as the best springboard bets to benefit from this key dynamic easing,” the analyst wrote in the note.

7. Regulatory Environment A Threat: The regulatory environment both in the U.S. and Europe will pose a threat to FAANG names around antitrust and monopolistic concerns, Wedbush anticipates. Regulatory issues will largely result in fines (led by the EU) and constrained M&A prospects, rather than any structural breakups of these tech stalwarts, it added.

8. Cloud Arms Race To Intensify: Amazon, Inc. (NASDAQ:AMZN), Microsoft and Google will lead the way in chasing a future $1 trillion global cloud computing services market, followed by Oracle Corporation (NYSE:ORCL) and International Business Machines Corporation (NYSE:IBM), Ives said. By the end of 2022, about 50% of workloads will likely be on the cloud, as more enterprises/governments head towards the cloud, he added.

9. Chinese Techs To Continue To Bleed: The impossible-to-predict actions out of Beijing will continue to result in more global investing dollars rotating from Chinese tech to U.S. tech stocks in 2022, Ives said.

10: $3T Club To Have 2 Members: Apple, followed by Microsoft, will eclipse the $3-trillion market cap threshold in 2022, Wedbush said.

Related Link: 9 Semiconductor Themes For 2022: Automotive Chip Shortage, Strong Cloud Demand, AI/ML Powering Metaverse And More

Original Article: benzinga.com

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Where Ascendis Pharma Stands With Analysts

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Over the past 3 months, 4 analysts have published their opinion on Ascendis Pharma ASND stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company’s business to predict how a stock will trade over the upcoming year.

Bullish
Somewhat Bullish
Indifferent
Somewhat Bearish
Bearish
Total Ratings
0
3
1
0
0
Last 30D
0
0
0
0
0
1M Ago
0
0
1
0
0
2M Ago
0
1
0
0
0
3M Ago
0
2
0
0
0

These 4 analysts have an average price target of $170.25 versus the current price of Ascendis Pharma at $114.86, implying upside.

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Below is a summary of how these 4 analysts rated Ascendis Pharma over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the move negative analysts are on the stock

This current average has decreased by 7.22% from the previous average price target of $183.50.

Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.

Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.

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Original Source: benzinga.com

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Boeing Stock Sits Near Key Level: What’s Next After Earnings?

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Boeing Co. (NYSE: BA) shares are trading lower Wednesday after the company reported fourth-quarter earnings before the opening bell.

The company’s earnings per share came in at a loss of $7.69, up from a loss of $15.25 per share year-over-year. Sales came in at $14.8 billion, missing the estimate of $16.86 billion.

Boeing was down 3.68% at $196.50 midday Wednesday.

See Related: Boeing Clocks 3% Revenue Decline In Q4

Boeing Daily Chart Analysis

Shares have been trending lower in what traders call a descending triangle pattern, but it now looks as though the pattern has ended and the stock has not seen a strong break of resistance or support. Since the end of the pattern, the stock has been moving sideways around the $205 level.
The stock trades below both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock is facing a period of bearish sentiment. Each of these moving averages may hold as a potential area of resistance in the future.
The Relative Strength Index (RSI) has been falling lower the past couple of weeks and now sits at 38. This shows that more sellers have been moving into the stock and if the stock continues to fall lower on the RSI could reach the oversold region near 30. This could bring about even more strong selling.

What’s Next For Boeing?

Boeing hasn’t seen any strong movements since ending the descending triangle pattern and shows that the stock is trading with a period of consolidation. When strong volume enters the stock, it may start pushing in one direction quickly and could start a new trend.

Bullish traders are looking to see the stock hold above the $205 level and see the RSI climb back above the middle line for a possible bullish run. Bearish traders are looking to see the stock. Hold below the $205 level and the moving averages for the stock to start seeing some bearish momentum.

Source: benzinga.com

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When the Best Cocktail Maker in the Cannabis Industry Launches a Drink, This Is What It Tastes Like

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Warren Bobrow, “The Cocktail Whisperer,” has launched a delicious new cannabis-infused beverage: Klaus.

Made with the best ingredients for a healthier and euphoric buzz, Klaus has set its sights on the growing ‘California-sober’ market and is ready to take the cannabis beverage culture to a whole new level.

Warren, The Creator

Bobrow is a cannabis alchemist and cocktail aficionado. He is also a respected industry journalist and author of six books in the craft cocktail space, including his most recent Cannabis Cocktails, Mocktails and Tonics.

And, of course, all of this expertise is reflected in the unique cannabis-infused craft mocktail he and his team launched.

Interestingly, the brand was named after Bobrow’s 1800s German “drinking gnome,” a travel companion that has joined the cocktail maker all around the world.

The Drink

The first product in the Klaus lineup is like no other cannabis-infused beverage out there.

Dubbed Mezzrole after Louis Armstrong’s friend and fellow hep-cat, Mezz Mezzrow (Mezzrole was slang for a finely crafted cannabis cigarette during the jazz era), the drink is robust and tangy with bursts of piquant ginger root syrup, gently giving way to palate-soothing rice vinegar notes and the finest French lime puree.

The refreshing beverage features a terpene-forward 10 mg THC infusion per can, only 16 calories and less than 1g of sugar per serving.

On the execution, Bobrow partnered with Sands Lane Ventures and creative agency MAMUS, seeking to make it simple for newcomers to the cannabis space to have an enjoyable and delicious experience.

Klaus is available at leading dispensaries in California.

Article: benzinga.com

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