Wedbush upbeat on tech cos, says sector has 'overcorrected'

Tenable Holdings

26/05/2022 16:28

** Wedbush says it has been surprised by the magnitude
and the speed of the sell-off in tech stocks this year 
    ** Believes tech stocks have "overcorrected" and cloud and
cybersecurity companies "are way oversold" 
    ** Brokerage's top choices in the tech sector continue to be
Microsoft  MSFT.O  and Apple  AAPL.O  
    ** Says cybersecurity stays its favorite tech sub-sector
with Palo Alto  PANW.O , Zscaler  ZS.O , Tenable  TENB.O ,
Fortinet  FTNT.O , & CyberArk  CYBR.O  as top picks 
    ** Shift to cloud is only ~40% complete, with companies like
Microsoft, Amazon  AMZN.O , Alphabet  GOOGL.O , Salesforce
 CRM.N , & Oracle  ORCL.N  poised to reap the benefits -
brokerage
    ** S&P 500 tech sector  .SPLRCT  down 23.7% YTD 

 (Reporting by Vansh Agarwal)
 ((Vansh.Agarwal@thomsonreuters.com;))