Expect 'strong' tech earnings season, says Wedbush

Investing.com -- Wedbush analysts are forecasting a strong third-quarter tech earnings season, driven by solid enterprise spending, and a rebound in digital advertising. The firm believes the ongoing “AI revolution” will drive tech stocks higher through the end of the year.

"We believe 70% of global workloads will be on the cloud by the end of 2025, up from less than 50% today," the analysts said. As the Federal Reserve, under Jerome Powell, embarks on an aggressive rate-cutting cycle, they see a macroeconomic soft landing as the most likely outcome. They emphasize that AI spending is part of a generational shift in tech investment, just beginning to impact the sector.) GPU chip generates an $8-$10 multiplier across the tech industry, further reinforcing their positive stance on tech stocks in the coming year.

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