On May 30, during an interview with CNBC, Siebert Financial CIO Mark Malek claimed that not all sectors react the same to market headlines. He believes tech and communication stocks, especially those driving the broader tech market, can still be held long-term despite short-term noise. He added that news can even create chances for late investors to join in. He remarked:
“…not all stocks are created equally. Not all sectors are created equally. But if you’re talking about certain sectors, namely the ones that have driven the Nasdaq this month, like the tech sector and communications, I believe certainly those sectors are the ones that you can sort of Rip Van Winkle because if you think about it, the opportunity in the mid to long term will transcend a lot of these sort of news items that will give us these ups and downs. In fact, if anything, the news cycles will provide opportunities for investors who are later to the game to get involved in the sector.”
Malek said that he is not worried about the hype around AI and added that it is rare to see both strong investor interest and real growth potential line up like this. He compared it to past tech revolutions like the PC and software revolutions and sees AI as a major long-term opportunity. When asked about the “word of the day,” he said that for him it is “primacy,” which means companies that not only lead but shape their entire industry.
With that in mind, let’s take a look at the top 10 tech stocks that are on Wall Street’s radar.
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Our Methodology
We sifted through media reports and compiled a list of 10 tech stocks that have been covered by Wall Street analysts between June 5 and 6. These stocks are also popular among elite hedge funds, as of Q1 2025.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10 Tech Stocks on Wall Street’s Radar
10. Silicon Motion Technology Corporation (NASDAQ:SIMO)
Number of Hedge Fund Holders: 32
Silicon Motion Technology Corporation (NASDAQ:SIMO) is one of the 10 tech stocks on Wall Street’s radar right now. On June 5, B.Riley increased its price target on Silicon Motion Technology Corporation (NASDAQ:SIMO) to $90 from $75 and reaffirmed its Buy rating on the stock.
The firm pointed to the expanded Nvidia Bluefield DPU win and the upcoming Nintendo Switch 2 cycle as drivers of longer-term gains for the company. It further added that progress in the PCIe Gen5 PC and notebook market is on track, with Silicon Motion (NASDAQ:SIMO) projected to grow its market share to over 50% using its 8- and 4-channel products.
Additionally, B.Riley provided a bullish outlook on the company’s future earnings as it said that similar momentum is expected from the adoption of UFS 4.0 in smartphones. The developments could push estimated earnings per share in 2026 and 2027 to around $5.25 and $6.50, respectively.
During the company’s Q1 2025 earnings call, management highlighted that Silicon Motion (NASDAQ:SIMO) has partnered with NVIDIA for over a year to qualify its MonTitan server boot storage for the BlueField-3 DPU, a platform designed to optimize AI workloads and cloud networking. Starting later this year, its boot storage will support BlueField-3, creating new revenue and growth opportunities.
Silicon Motion (NASDAQ:SIMO) designs and sells NAND flash controllers and specialized SSDs for various applications, including computing, enterprise data centers, mobile devices, and industrial uses, under multiple brand names.
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