Cathie Wood is seen to be squeamish by Dan Ives

Cathie Wood is seen to be squeamish by Dan Ives ...

Apple (AAPL) - Get Meta Platforms Inc. Class A Reportand Amazon (AMZN) - Get Amazon.com, Inc. Reportseemed nearly immune from Wall Street downswings.

In fact, their impressive performance slowed otherwise depressing figures in many other companies'' shares for the most of 2021, bringing the important stock indexes higher due to their depreciation.

Large IT has come to Earth in a dangerous way since the start of 2022, as concerns of rising interest rates, a global economic slowdown, and the uncertainty of Europe''s largest land war in 75 years have sent stocks tumbling.

In the midst of the current selloff, one Wall Street veteran is out Monday with a series of tweets focusing on tech stocks. And they might be even more upbeat than technology fan Cathie Wood. Wood has been rushing from critics of her Ark Innovation ETF (ARKK) - Get a ARK Innovation ETF Report.

Perspective

Dan Ives, the managing director of Wedbush, has seen everything previously, and he is not concerned.

"We have seen every cycle covering tech as an analyst since the http://dot.com days." Ives said, "We want to own high-quality tech stocks through this market storm/Fed rate cycle." "Multiples compress, its been painful-but it does not sway our long-term bullish view of technology!"

Ives recalled the aftermath of the dot-com boom and bust.

TheStreet Recommends

What Is Stock Float?Definition, Example, and Related Terms

Coca-Cola, American Express, and Visa are among the competitors in Cramer''s Mad Money Recap 5/2.

Your Float Cup of Coffee from Dunkin''s or Starbucks is getting a bit pricey.

"It''s possible that some of the world''s most innovative technology companies would be started and funded during this time period, which would ultimately lead to a historic market run until 2007."

And once more in the wake of the financial crisis.

"I remember recalling attending a Sand Hill Road event in February 2009 at the depths of the market lows, where investors, startups, and venture capitalists were usually in tears as it appeared like the market was forever changed;."

"Tech stocks were the last thing on earth anyone wanted to talk about with March 2009 lows ahead of us, massive layoffs abound, and 666 on the S&P a month later in early March. The rest is history as the market continued on a historic run-up until March 2020."

And for a third time, Covid panic markets expected to sell in 2020, tech stocks were hammered by "another significant white-knuckle period in the market with a historic return and all-time highs."

Been There, Done That

As Ives said, "we have done that once again," and the skeptics said the tech names got over hard and that the clock struck midnight for technology and it was time for the bulls to say goodnight. We could NOT disagree more as we remain bullish on technology here.

"Our unwavering belief is that the shift to the cloud is only 40% complete," says the narrator. Get Microsoft Corporation Report, Amazon (AWS) (AMZN) - Get Amazon.com, Inc. Class A Report, Salesforce (CRM) - Get salesforce.com, Inc. Report, and Oracle (ORCL) - Get Oracle Corporation Report.

You may also like: