TECHNOLOGY INVESTING PERSONAL FINANCE RETIREMENT CRYPTO MARKETS HOW-TO Search HOME INVESTING OMICRON: EVERYTHING WE KNOW ABOUT THE NEW COVID VARIANT SO FAR NOV 26, 2021 2:35 PM EST Ives: Market Selloff is 'Golden Opportunity' for Tech Stocks 'We view [the move] as a clear buying opportunity, given our bullish view of the tech sector set up into 2022,' said Wedbush's Dan Ives. DAN WEIL The stock market’s selloff Friday represents a “golden buying opportunity” for top technology stocks, such as Apple (AAPL) - Get Apple Inc. (AAPL) Report and Microsoft (MSFT) - Get Microsoft Corporation (MSFT) Report, says Wedbush Securities analyst Dan Ives. The S&P 500 index dropped 2.3% Friday, and the tech-heavy Nasdaq Composite lost 2.2% on news of a new Covid variant coursing the world. “We view [the stock move] as a clear buying opportunity, given our bullish view of the tech sector set up into 2022,” Ives wrote in a commentary. “Over the past 18 months our bullish tech playbook has been unchanged. Any time we get 10-year Treasury yield spikes/variant fears/second wave worries, we view this as a buying opportunity to own the tech secular winners.” “While we are seeing a return to normalcy, a semi-remote workforce environment is here to stay. [That] underscores our thesis that areas such as cloud, cyber security, 5G are robust tech spending areas into 2022. TheStreet Recommends “Major sell-off days like today create the golden opportunity to own our favorite tech names into 2022. Our Nasdaq 2022 target of 19,000 speaks to our tech bull thesis cycle still in the middle innings of playing out. “We would own the secular winners in FAANG [Meta Platforms (Facebook) (FB) - Get Facebook, Inc. Class A Report, Amazon (AMZN) - Get Amazon.com, Inc. Report, Apple, Netflix (NFLX) - Get Netflix, Inc. (NFLX) Report and Alphabet (GOOGL) - Get Alphabet Inc. Class A Report],” Ives said. “Apple remains our favorite,” Ives said. He also likes cloud plays Microsoft, DocuSign (DOCU) - Get DocuSign, Inc. Report, Nice (NICE) - Get NICE Ltd Sponsored ADR Report and Pegasystems (PEGA) - Get Pegasystems Inc. Report. For cybersecurity, Ives favors Zscaler (ZS) - Get Zscaler, Inc. Report, Palo Alto Networks (PANW) - Get Palo Alto Networks, Inc. Report, CyberArk Software (CYBR) - Get CyberArk Software Ltd. Report, SailPoint Technologies (SAIL) - Get SailPoint Technologies Holdings, Inc. Report, Fortinet (FTNT) - Get Fortinet, Inc. (FTNT) Report and Tenable (TENB) - Get Tenable Holdings, Inc. Report. He didn’t specify stocks for taking advantage of 5G. AMAZONTECHNOLOGYAPPLEMICROSOFT BY DAN WEIL Dan is a freelance writer whose work has appeared in The Wall Street Journal, Barron's, Institutional Investor, The Washington Post and other publications. SEE MORE Terms Of Use Reviews Privacy Policy Advertise Market Holidays 2021 Customer Service Data Topic Dictionary Subscriptions © 2021 TheStreet, Inc. All rights reserved. Action Alerts PLUS is a registered trademark of TheStreet, Inc.