Buy the dip on tech stocks like Apple and Nvidia ahead of earnings, Morgan Stanley says

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Buy the dip on tech stocks like Apple and Nvidia ahead of earnings, Morgan Stanley says

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is *************; our FY25 EPS is 3% above the high-end of the guide. Further momentum in the AI server narrative, PCs inflecting to growth and S & P 500 inclusion remain key upcoming catalysts.” Apple “We believe Apple will slightly beat Mar Q ests, but guide to June Q revs/implied EPS 4-7% below Street. At $165, this appears priced in but in today’s volatile market, it’s a tricky setup. That said, with Apple’s biggest WWDC ever on June 10th, we’d buy post-earnings weakness. Remain OW; $210 PT.” Fortinet “Nearing the Trough, Poised to Accelerate in 2H. … Net, we see upside to Q1 estimates and remain confident in 2H topline acceleration. … Our partner conversations indicated more stability in overall demand after a turbulent 2H’23. … With growing regulatory tailwinds around securing critical infrastructure, demand for Fortinet OT [operational technology] security ( > 10% of bookings) ******** strong.” Nvidia “NVDA continues to see strong spending trends in AI, with upward revisions in demand from some of the newer customers such as Tesla and various sovereigns. … We expect a beat to consensus for the April quarter and strong guidance, setting the stage for another series of positive EPS revisions. … We believe that NVIDIA should trade at a premium given its higher probability of upward revisions in the near term.” Keysight Technologies “Within the T & M space, we believe KEYS is best positioned to capitalize on the AI / ML tailwind given exposures across various layers of networks including physical, protocol, and application. … The company has broadest set of customers across semi, componentry, traditional networking & hyperscalers, which combined with their depth of portfolio, should make them a share gainer in AI. … We remain OW KEYS as we believe valuation today fails to credit double-digit earnings growth story & defensive end-market exposures.”

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Dell Technologies Inc,NVIDIA Corp,Keysight Technologies Inc,

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,Investment strategy,Breaking News: Markets,Markets,Fortinet Inc,Breaking News: Investing,Weekend brief,business news
#Buy #dip #tech #stocks #Apple #Nvidia #ahead #earnings #Morgan #Stanley

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