The market rally will fade soon, but certain tech names are poised to outperform, according to hedge fund manager Dan Niles. The stock market is ending the first quarter higher , with tech stocks leading the way. The Technology Select SPDR ETF is up 9% in March, more than any other sector ETF. One name in the sector that Niles has liked for a while is Meta .
mountain Meta's climb this year There will also be certain companies that benefit from artificial intelligence. Nvidia will be the big winner, he said. The company recently unveiled new products at partnerships at its developer conference and launched its DGX Cloud, which can be used to train models behind generative AI applications. "We are going to need more powerful microprocessors as well and Intel is very, very inexpensive," Niles said.
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