A top technology fund manager is laying out his favorite names in the sector going forward. “It’s an exciting time where we’re seeing productivity really get enhanced, and perhaps this being a really big industrial economic productivity increaser,” Tony Wang, portfolio manager of T. Rowe Price’s science and technology equity strategy, told CNBC’s ” Squawk Box ” on Monday. For nearly two years since the debut of ChatGPT, companies have poured money into semiconductor and infrastructure names underpinning the buildout of artificial intelligence tools. Now, Wang believes the tide is shifting in favor of software companies and app developers launching and integrating AI products. APP YTD mountain Applovin shares this year Along with Nvidia, Wang views Marvell Technology as a key long-term AI play with a “strong future” given its custom chip products with hyperscalers such as Amazon . He also highlighted the company’s CEO as a strong “capital allocator.” While the ” Magnificent Seven ” stocks should continue to lead given their data access; large customer base; and capital to train, build and deploy AI models, Wang anticipates a new crop of beneficiaries emerging. This includes Palantir and Applovin . Wang highlighted Applovin’s digital advertising moat and strong execution among the reasons he favors the stock. Applovin surged 77%, scoring its best week on record, following a strong earnings report . Shares are up more than 590% this year. “A lot of them had really quite big moves recently in the last earnings and I think that’s driven largely by their AI data flywheel,” he said of the picks. “Technology trends are often on an exponential adoption curve, and a lot of times the market … underestimates these tech transitions.”
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