On CNBC's "Fast Money Halftime Report," the investment committee discussed Wedbush's bullish call on the tech stocks. The Wedbush analysts wrote that positive earnings will be a major positive catalyst for tech names and there is an upward potential of 25% to 30% for the group.
Joe Terranova said the call is aggressive, but it makes sense because of the consistent revenue growth that the technology stocks deliver. He is positioned right now for this move.
Karen Firestone agrees with the direction of the call, but she's not sure about the extent of the move and she finds 25% a little bit aggressive. She said a move of 15% would be reasonable.
Stephen Weiss said he is positioned for a part of the call, but the technology space is a big sector and a move of 25% to 30% is possible for some names like Qualcomm QCOM, Qorvo Inc QRVO and Skyworks Solutions Inc SWKS. Weiss also said FAANG stocks need a booming market to gain 25% to 30%.
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