Buy tech stocks now as solid 2nd-quarter earnings will power a 15% rally into year-end, Wedbush says

• Investors should buy technology stocks ahead of a year-end rally, according to Wedbush’s Dan Ives.
• Ives said Friday that the combination of solid second-quarter earnings and a less hawkish Fed should boost stock prices.
• “With the Fed waving the white flag on rate hikes, we see a green light risk-on environment into year-end,” Ives said.

The combination of solid second-quarter earnings results and a less hawkish Federal Reserve means investors should start buying technology stocks, according to a Friday note from Wedbush analyst Dan Ives.

Ives argued that the ongoing pull-back in technology stocks, which send the Nasdaq 100 down about 6% from its recent high, represents a buying opportunity for long-term investors that want to get positioned for the next bull market.