bullish

Even with questions about the company’s business in China and its underperformance relative to peers, most firms on Wall Street remain bullish.

“We believe this is a 1996 moment … and NOT a 1999 bubble moment and remain firmly bullish on tech stocks into year-end and 2026 despite recent investor bearish fears,” Ives said.

Morgan Stanley analysts view current market weakness as a buying opportunity, expecting a bullish 12-month outlook.

If buyers step in, a double bottom pattern is forming, started on the left side by a bullish morning star just above the $100 round number.

A solid U.S. economy is also part of his bullish picture for U.S. stocks, though the bank sees a slight moderation in gross domestic product to 3.1% in 2026 from 3.2% this year.