Bank of America said there are still plenty of buying opportunities in technology stocks. The investment bank said buying in stocks such as Apple is surging ahead of quarterly results this week. CNBC Pro compiled research from Bank of America to find Buy-rated tech stocks with more room to operate. They include: Microsoft, Apple, Micron Technology, Shopify and Sea Limited. Apple Bank of America recently raised its price target on the iPhone maker to $256 from $230. Analyst Wamsi Mohan said Apple is firing on all cylinders ahead of what he calls the “refresh iPhone cycle.” The bank’s recent survey shows that Apple’s iPhone user base is ready to upgrade to products that include artificial intelligence capabilities. The bank said brand loyalty is crucial. “14% of U.S. respondents said they plan to purchase Apple Vision Pro,” Mohan wrote. Apple is scheduled to announce earnings next Thursday, August 1. Shares are up 13.2% this year. Bank of America says now is the time to buy shares of Canadian business website provider Shopify. Analyst Brad Sills recently upgraded Shopify to buy from neutral due to “a more balanced growth and profit profile.” Hills said the company’s transformation under its new chief financial officer is also underway as quarterly results emerge in early August. “Revenue growth and disciplined spending point to healthy margin growth going forward,” he wrote. Sils believes Shopify has a number of competitive advantages that bode well for its future market share growth. “Shopify appears to be well-positioned to continue capturing e-commerce market share while achieving better scale and scale [free-cash flow] he continued. Customers were urged to remain calm as trends were improving in the company’s gaming and Shopee units, Sea’s Southeast Asian e-commerce platform. e-commerce boom. , the Wall Street firm reiterated its buy rating, urging Sea, which is expected to report Micron’s quarterly earnings report in August, adding, “We see stabilizing competitive trends in the region, resulting in strong pricing, mix and advantage opportunities. We are pleased to invite Micron CFO Mark Murphy, Chief Vice President Satya Kumar and IR Samir Patodia to well-attended investor meetings in Boston and New York. The key messages are very optimistic: pricing, visibility, supply discipline and differentiation. The company is growing with an improved portfolio of AI computing and enterprise storage products, led by continued adoption of the Azure cloud infrastructure platform, the cloud-based Office 365 productivity suite, and more profitable gaming and Game Pass revenue in Xbox. Well positioned. Will improve. Apple “Strong multi-year iPhone refresh cycle and aging device base; purchase orders to $256… We reiterate Buy rating based on expected multi-year iPhone cycle, strong services growth and margin expansion driven by GenAI … 14% of U.S. respondents said they plan to buy Apple Vision Pro Shopify “Revenue growth and disciplined spending bode well for healthy margin growth going forward. …Shopify appears to be well-positioned to continue capturing e-commerce market share while delivering. Better scale and FCF transformation. …more balanced growth and profit profile.
