Cantor Fitzgerald believes that tech stocks present an appealing opportunity for long-term investors seeking growth exposure. In a note to clients, the analysts highlighted several stocks that they believe have strong potential to outperform in 2023.
In the software sector, Udemy (NASDAQ:UDMY) is a top pick. Grid Dynamics (NASDAQ:GDYN) was highlighted as the top fintech pick, while Digi International (NASDAQ:DGII) and Riot Blockchain (NASDAQ:RIOT) were identified as top sustainability and crypto picks, respectively.
Cantor’s top Industrial & Mobility pick for 2023 is Rivian Automotive (NASDAQ:RIVN). In his note, the analysts cited the company’s strong liquidity of approximately $13 billion in cash and the potential for Rivian to receive federal funds by opening its own charging network as reasons why the risk-reward ratio is attractive at current levels. Palo Alto Networks (NASDAQ:PANW) was also identified as the top stock to own in the Security & Infrastructure Software sector.