The two best-positioned megacap tech stocks in 2024: Analyst
04/03/2024 22:48
Amazon (AMZN) and Meta Platforms (META) were among the tech stock leaders who drove growth in the S&P 500 (^GSPC) throughout 2024's first quarter. The two Magnificent Seven members are Wells Fargo Senior Analyst Ken Gawrelski's top stock picks for the tech sector. Amazon is "making many fundamental improvements in logistics capabilities and efficiencies. So, we expect margins to continue to inflect higher in the retail business," Gawrelski tells Yahoo Finance. "The second business, which is AWS [Amazon Web Services], their cloud business, that was also an inflection in 2023, but that inflection was there after a steep decline of growth from 2022 to 2023." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. Editor's note: This article was written by Luke Carberry Mogan.
Amazon (AMZN) and Meta Platforms (META) were among the tech stock leaders who drove growth in the S&P 500 (^GSPC) throughout 2024's first quarter. The two Magnificent Seven members are Wells Fargo Senior Analyst Ken Gawrelski's top stock picks for the tech sector.
Amazon is "making many fundamental improvements in logistics capabilities and efficiencies. So, we expect margins to continue to inflect higher in the retail business," Gawrelski tells Yahoo Finance. "The second business, which is AWS [Amazon Web Services], their cloud business, that was also an inflection in 2023, but that inflection was there after a steep decline of growth from 2022 to 2023."
For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.
Editor's note: This article was written by Luke Carberry Mogan.