Some Wall Street investors could also be cautious on tech right away, especially after the collapse of Silicon Valley Bank. But others are seeing the volatility as a chance to snap up some tech stocks . After rallying to start out the yr, the Nasdaq Composite has lost greater than 5% previously month. Morgan Stanley named its top picks in tech in a March 13 note. Here’s what the bank’s analysts, which include top strategists equivalent to Mike Wilson, wrote about three of them. Advanced Micro Devices Morgan Stanley said it has a longstanding preference for getting semiconductor stocks at some extent within the cycle when “firms are undershipping end market demand and visibility is low.” Meaning Advanced Micro Devices is a buy, in keeping with the bank, which added that scenario “characterizes” half of the firm’s business right away, with a recovery more likely to are available in the second half of 2023. “The opposite half of the corporate’s business, its data center compute products, are arrange for significant share gain in among the finest end-markets in semiconductors, helping the corporate stand out against peers even within the face of potential customer budget cuts,” the bank’s analysts wrote. Morgan Stanley gave AMD an chubby rating, and a price goal of $87 — a level that the stock reached on March 14. ServiceNow Cloud services company ServiceNow is one in all the “best secularly positioned” names in software, in keeping with Morgan Stanley, on condition that firms are prioritizing “digital transformation” of their IT spending. “The mix of durable topline growth and operating efficiency makes NOW our preferred top pick in the present environment,” the bank said. It gave ServiceNow a price goal of $612, or around 44% upside. Amazon Morgan Stanley sees Amazon because the large-cap web name in the most effective position, with “durable retail revenue growth and inflecting retail profitability.” The bank said the corporate’s business could reaccelerate in August, with margins set to enhance. Amazon is currently trading at a 55% discount to the historical average, the analysts added. It gave Amazon a price goal of $150, or nearly 60% upside. — CNBC’s Michael Bloom contributed to this report.