- Top tech stocks including Facebook, Apple, Amazon, Netflix, and Google, commonly known as FAANG stocks, are poised to flex their muscles in 2020, according to Daniel Ives of Wedbush.
- A number of "transformational trends" such as 5G, cloud computing, autonomous cars, and streaming will be front and center for Wall Street analysts, he wrote in a Monday note.
- Here are Ives' top 10 tech predictions for 2020.
- Read more on Business Insider.
In 2020, the FAANG stocks - Facebook, Apple, Amazon, Netflix, and Google - are poised to flex their muscles, and certain themes will drive tech, according to Daniel Ives, an analyst at Wedbush.
"Heading into 2020 there is clear momentum for the tech space/ stocks as a number of transformational trends such as 5G, cloud, autonomous, and the streaming content wars will be front and center for the Street," Ives and Strecker Backe, also a Wedbush analyst, wrote in the note published Monday.
Tech stocks have had a blockbuster year in 2019, putting the S&P 500 information technology sector on track for its best year since 2009. Soaring gains from stocks such as Apple and Advanced Micro Devices have led the sector's performance.
Next year, Ives thinks that Apple will secure the top spot in 5G, according to the note. In cloud, he thinks that Microsoft and VMware will reign supreme, but that CyberArk, Zscaler, and Palo Alto Networks are the top cybersecurity names to "play the fertile cloud trend."
But Ives' predictions aren't unanimously positive. He predicts that "winter is coming" for Slack in 2020, as it will become more difficult to compete with Microsoft and its Teams initiative.
Here are the top 10 tech predictions for 2020, according to Daniel Ives of Wedbush.
