Wedbush Securities analyst Dan Ives has highlighted three key tech stocks that he sees outperforming.
AMD – Daily Chart
AMD has fallen from its recent highs at $260 and has key resistance at $226.81. If the resistance fails, the gap could open up a possible move to $170.
Advanced Micro Devices (NYSE: AMD) is a stock that Wedbush likes, and the company has been one of the standout AI stocks since October.
AMD is a diversified semiconductor company that supplies hardware to many sectors, particularly in the GPU and CPU chip area.
AMD has delivered strong financial momentum in recent quarters, with revenue and earnings growing by 29.94% and 28.93%, respectively. That trajectory has continued into the latest reporting period, where the company beat analysts’ again.
Ives is still keen on Palantir (PLTR), which was the darling tech stock of the year, surging to the $200 level, but has since fallen to $163.55. With a current market cap of $386 billion, Palantir has more than doubled this year, rising 120% year to date.
The third company that Ives likes is the world’s most valuable company and semiconductor giant, Nvidia (NVDA). The company now has a market cap of $4.4 trillion and soared 1,200% over the last five years.
Analysts are now looking to see if the trend can continue after that blockbuster run. The recent earnings release boosted the stock and gave investors global relief that the AI-driven rally can continue. In the third quarter, Nvidia reported revenue of $57 billion, up 62% year over year, with data centre revenue up 66% over that period. Earnings rose by 67% to $1.30, coming in ahead of the consensus estimate of $1.26.
A recent sell-off in stocks has cooled, and there is now potential for a year-end rally. Large investors will then decide where to allocate their capital in 2026.
