Investors should eye several key tech names if they want to put new money to work amid heightened market volatility, according to Bernstein. The CBOE Volatility Index briefly soared to 66 during the August 5 selloff, according to FactSet, after July's weaker-than-expected jobs data and the unwinding of the yen carry trade led to fears of an imminent recession, spurring a global market sell-off .
Here are some of the stocks in the basket: Viewing Uber as a dominant player in the rideshare and delivery space, Bernstein cited a "substantial" turning point in EBITDA – at a 40% compound annual growth rate from 2023 to 2026 – and a "wave of consumers leaning into convenience" as catalysts for the tech company. Shares have surged this year, moving 17% higher, and Bernstein remains bullish.