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3 reasons one Wall Street firm says to stick with cloud stocks amid the coronavirus-induced market rout

March 31, 2020 / Carmen Reinicke
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Daniel Ives of Wedbush wrote in a Monday note that cloud stocks such as Amazon and Microsoft are poised to benefit from the coronavirus pandemic.During the darkest period of a shock event with doomsday worries front and center, fundamentals and valuations get thrown out the window as pure fear and panic take over with red screens the result,” Ives wrote.However, this creates solid buying opportunities for tech investors “with the risk tolerance and patience to own the tech names with attractive risk/rewards, strong secular themes, and stress tested models,” he said.
Here are three reasons Ives likes cloud stocks.Read more on Business Insider.There are still bright spots in the market even amid the coronavirus-induced rout, according to one Wall Street firm.We believe having a playbook of tech themes and stocks that can navigate this dark storm remain the best way to invest in this landscape,” Daniel Ives of Wedbush wrote in a Monday note. In particular, I...