Bank of America Merrill Lynch says to buy tech stocks like Nvidia on dips amid uncertainty | Wilnesh News
Bank of America says there are plenty of top technology stocks worth buying despite continued market jitters. The Wall Street bank named several companies that analysts see as attractive entry points for sale. CNBC Pro compiled research from Bank of America to find the best tech stocks to buy. Companies we found include Amazon, Netflix, Palantir, Uber, Nvidia, and Apple. “The best is yet to come,” Apple analyst Wamsi Mohan said of the iPhone maker. Bank of America Corp. Support the company led by Tim Cook. He wrote: “With the launch of Apple Intelligence, we further see the potential for (smartphone) sales to significantly accelerate in the December quarter and F25 overall.” Apple services revenue hit an all-time high, and Mohan concluded that with the With new products launched in September, Apple’s stock price still has a lot of room to rise. “We believe the launch of Apple Intelligence is another driving force for the growth of Apple services,” he added. Apple shares are down about 3% this month. He continued: “Given the iPhone’s multi-year upgrade cycle, favorable gross margins and strong cash flow, we believe that consensus forecasts are likely to be revised upward, so reiterate buy.” Netflix analyst Jessica Reif Ehrlich still insists on holding streaming movies Service Stock. After reporting second-quarter earnings in mid-July, the company posted strong revenue and profit growth on solid guidance. Reif Ehrlich noted that user growth continues. She wrote: “NFLX’s existing scale advantage is bearing fruit, and healthy revenue growth and effective cost control are driving operating leverage, leading to an improvement in margin prospects to 26% in 2024.” Bank of America also said that advertising tailwinds Start paying off for Netflix. Reif Ehrlich said: “All in all, we remain optimistic about the long-term potential of the advertising industry, although we expect a more significant contribution in 25/26.” At the same time, Netflix shares fell nearly 8% from last month. “We believe Netflix remains the best-positioned company in media and has multiple growth drivers, including accelerating growth in its booming advertising business,” she said. Analyst Justin Post said Uber The ride-sharing platform is firing on all cylinders. Uber reported a blowout earnings report earlier this week, with both revenue and profit beating analysts’ expectations. Uber also issued strong future guidance. Post acknowledged that the setup was difficult for Uber, but said the company succeeded. He wrote: “Uber is meeting tough expectations and looking ahead to solid growth, helped by efficiency gains, advertising growth and massive cost leverage.” Bank of America said the results could ease investor concerns about the economy. Fears of impending slowdown. Additionally, Post said he is optimistic about the company’s autonomous future. “On the (autonomous driving) front, Uber will soon reveal more news that could indicate new and/or expanded partnerships,” he said. Meanwhile, Uber’s stock price has fallen nearly 4% in the past month. Post went on to say: “Given the size of the addressable market and the potential for technological advancements to reduce driver dependence and improve margins, we are constructive on the fundamentals.” Apple’s “the best is yet to come; for now, A slight beat and improvement is good enough… With the launch of Apple Intelligence, we further see the potential for significant acceleration in both the December quarter and F25 overall, reiterating given the multi-year iPhone upgrade cycle, gross margin upside and… Strong cash flow, we think consensus forecasts are likely to be revised higher, so buy. Amazon “AWS surprises, but retail is not immune to macro factors; remains well-positioned on AI. …We think Amazon is good for customers and The focus on buyer experience is right for the internet. We think Amazon’s focus on the customer and buyer experience is still right for the internet. We think Amazon is well positioned for that. Capitalizing on the growth of e-commerce in global markets and other secular trends such as cloud computing, online advertising and connected devices, Netflix said: “We believe NFLX remains the best positioned company in the media space and has multiple growth drivers, including its strong momentum. Accelerating growth in the growing advertising business. …With healthy revenue growth and effective cost control, NFLX’s existing scale advantages are bearing fruit on Palantir’s long-term potential for dominance in the artificial intelligence-driven software market. , differentiated end-to-end, ontology-driven and highly secure solutions and first-mover advantage should support revenue growth and improve margins in the medium term. The growing urgency to modernize military and intelligence capabilities is likely to provide significant opportunities for Palantir. Uber “Uber is meeting stringent expectations and looking ahead to solid growth, aided by efficiency improvements, advertising growth and massive cost leverage… On the AV front, Uber quickly revealed more news, indicating that the new and/or expanded partnerships… We are constructive on the fundamentals that Nvidia’s Blackwell transition could weaken given the large number of TAM and technology advancements that could reduce driver dependency and improve margins. Near-term upside… Regardless, any exit could further pressure Nvidia stock amid continued market uncertainty on interest rates/geopolitics, however, we view any sell-off as a reinforcing buying opportunity. Because the challenge is not on the demand side, but the supply side will not fundamentally undermine NVDA’s long-term momentum.
