Tech stocks will jump 20% in 2023 as the sector dodges Fed headwinds and shows signs of resilience after this year's 'horror show,' Wedbush says

Dec 26 2022 by Business Insider

 

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The tech sector's plunge into a bear market in 2022 will be followed by a 20% surge in 2023, Wedbush's Dan Ives projects.  The Fed is in the "7th inning" of rate hikes, and companies preparing to guard margins set up a choppy but upside path for tech shares.  The tech-concentrated Nasdaq 100 is staring at loss of more than 30% in 2022. 

This year's plunge in technology stocks – Apple and Amazon among them – will give way to a sharp rebound in 2023 as companies work to...

Continue Reading Tech stocks will jump 20% in 2023 as the sector dodges Fed headwinds and shows signs of resilience after this year's 'horror show,' Wedbush says