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.
9. Zoom Communications Inc. (NASDAQ:ZM)
Number of Hedge Fund Holders: 49
Zoom Communications Inc. (NASDAQ:ZM) is one of the 10 tech stocks on Wall Street’s radar right now. On June 6, KeyBanc initiated coverage of Zoom Communications Inc. (NASDAQ:ZM) with an Underweight rating and set a $73 price target in a broader report on select Enterprise Software companies.
The analyst noted that the company’s core video conferencing business has faced challenges since the pandemic peak, as in-person work returned. The firm also mentioned the competitive pressure from Microsoft as it has strengthened its position with Teams, improving features and user experience. Keybanc said that the company’s efforts to grow beyond video collaboration have not been very compelling.
Similarly, on May 22, Wells Fargo increased its price target on Zoom Communications Inc. (NASDAQ:ZM) from $75 to $80 and maintained an Equal Weight rating on the stock. The stock was already trading around $2 above the analyst’s price target on the day.
Zoom (NASDAQ:ZM) provides an AI-driven work platform featuring video meetings, messaging, cloud phone systems, and productivity tools like whiteboards, workflow automation, and modular docs, while also supporting virtual events, contact centers, and third-party app integration across various industries.
8. GitLab Inc. (NASDAQ:GTLB)
Number of Hedge Fund Holders: 52
GitLab Inc. (NASDAQ:GTLB) is one of the 10 tech stocks on Wall Street’s radar right now. On June 6, Scotiabank cut its price target on GitLab Inc. (NASDAQ:GTLB) to $67 from $80 ahead of its earnings (Q1 FY2026), but maintained an Outperform rating on the stock.
The firm described its recent internal reviews as steady, and noted some traction with GitLab Duo but also some signs of weakness in the broader market. Scotiabank does not expect Q1 to provide a major catalyst, yet sees the stock as fairly priced. It is also important to note that AWS has expanded its partnerships with GitLab and has integrated GitLab Duo into its offerings.
GitLab Inc. (NASDAQ:GTLB) is expected to post its Q1 2026 results on June 10. After posting its FQ4 2026 earnings in March, the company provided revenue guidance of $212 – $ 213 million and non-GAAP operating income to be around $21 – $22 million. For the full year, the company expects to report a revenue between $936 and $942 million.
GitLab Inc. (NASDAQ:GTLB) provides a unified platform that supports the full software development lifecycle, helping teams plan, build, secure, and deploy applications across multiple cloud environments. Additionally, the company offers training and professional services.
7. Ciena Corporation (NYSE:CIEN)
Number of Hedge Fund Holders: 58
Ciena Corporation (NYSE:CIEN) is one of the 10 tech stocks on Wall Street’s radar right now. Northland analyst Tim Savageaux increased the price target on Ciena Corporation (NYSE:CIEN) to $85 from $75 and maintained an Outperform rating on June 6, after the company reported “mixed” fiscal Q2 results.
Savageaux highlighted the strong demand that led to raising the FY25 growth forecast to 14%, up from the previous 8-11% range. He also pointed out that in the Optical industry, it is common to buy systems providers when margins are lower due to higher line system and equipment revenue.
While Northland showed a bullish sentiment on the stock, Evercore ISI analyst Amit Daryanani cut the price target for Ciena (NYSE:CIEN) to $75 from $82 and maintained an In Line rating on the same day.
According to the firm, the recent quarter showed mixed results, with revenue beating estimates but earnings per share falling short. Growth in the cloud segment drove revenue, but weaker gross margins, affected by product mix and tariffs, hurt profits, and the analyst noted that margin challenges continue to be a worry.
Ciena (NYSE:CIEN) delivers a broad range of hardware, software, and services focused on optical networking, network management, and automation, supporting network operators with solutions for transport, routing, orchestration, and maintenance.
6. Cloudflare, Inc. (NYSE:NET)
Number of Hedge Fund Holders: 65
Cloudflare, Inc. (NYSE:NET) is one of the 10 tech stocks on Wall Street’s radar right now. On June 5, Oppenheimer raised its price target on Cloudflare, Inc. (NYSE:NET) from $165 to $200 and maintained an Outperform rating after discussions with Phil Winslow, the company’s VP of Strategic Finance & Investor Relations.
The firm grew more optimistic about the company’s growth prospects due to strong momentum in SASE (Secure Access Service Edge) security, boosted by Magic WAN adoption and improvements in CASB (Cloud Access Security Broker) and data loss prevention security features. The firm noted that the Worker platform’s expanding capabilities have gained more traction among developers who favor the shift-left approach.
Additionally, new AI-focused edge computing technologies like MCP and A2A, along with a new container service for AI workloads, are also some of the reasons for Oppenheimer’s positive outlook. The firm is confident that Cloudflare (NYSE:NET) will exceed expectations for 2025, accelerate revenue growth beyond 30%, and reach a $5 billion ARR by the end of 2028.
Cloudflare (NYSE:NET) provides a broad suite of cloud-based security, performance, and network services designed to protect and optimize applications, websites, and data across platforms, including SaaS, IoT, and cloud environments. The company offers security solutions including zero trust and DDoS protection, network services such as Magic WAN, and developer tools alongside consumer products like VPN and DNS services.
5. MongoDB, Inc. (NASDAQ:MDB)
Number of Hedge Fund Holders: 72
MongoDB, Inc. (NASDAQ:MDB) is one of the 10 tech stocks on Wall Street’s radar right now. Macquarie increased its price target on MongoDB, Inc. (NASDAQ:MDB) to $230 from $215 and maintained a Neutral rating on June 6.
The firm noted that the company’s strong first-quarter performance helped ease concerns after last quarter’s weak full-year revenue and margin outlook. Macquarie believes potential gains and risks are currently in balance.
On June 4, MongoDB (NASDAQ:MDB) reported first-quarter results that exceeded expectations, with adjusted earnings of $1.00 per share and $549 million in revenue, both topping estimates by $0.34 and $21.53 million, respectively. The company added 2,600 new customers, reaching over 57,100 total. MongoDB Atlas revenue grew 26% year-over-year and made up 72% of total revenue.
The company’s management raised full-year revenue guidance by $10 million to $2.25–$2.29 billion and operating margin to 12%, while expanding the share repurchase program to $1 billion. For the second quarter, MongoDB (NASDAQ:MDB) guided its revenue toward the $548 million-$553 million range. The latest results presented a sharp turnaround from the prior quarter’s conservative outlook, which had driven the stock down nearly 30%.
MongoDB (NASDAQ:MDB) provides a flexible database platform that includes a cloud-based service, enterprise-grade solutions, and a free version for developers, along with consulting and training services.
4. Twilio Inc. (NYSE:TWLO)
Number of Hedge Fund Holders: 73
Twilio Inc. (NYSE:TWLO) is one of the 10 tech stocks on Wall Street’s radar right now. On June 6, KeyBanc initiated coverage of Twilio Inc. (NYSE:TWLO) with a $146 price target and an Overweight rating as part of the firm’s broader look at enterprise software stocks.
The firm noted that the company’s recent momentum could continue, which could be driven by a sharper focus on its main products and improvements in its go-to-market execution. Over the last month, Twilio’s (NYSE:TWLO) stock has gained nearly 15.7%.
Earlier on May 14, Baird analyst William Power reaffirmed a Buy rating on Twilio (NYSE:TWLO) with a $130 price target. The firm had previously cut the price target for the company in April from $160 to $130. Power’s view shows confidence in the company’s progress in conversational AI and its collaboration with Microsoft. Moreover, tools like ConversationRelay and its integration with Segment are seen as Twilio’s (NYSE:TWLO) main strengths. The company’s platform upgrades, including new AI and customer data features, signal strong innovation.
Twilio (NYSE:TWLO) provides a platform that helps businesses manage customer interactions through messaging, voice, email, and user verification. Furthermore, the company offers tools to personalize experiences using real-time data and AI features.
3. Snowflake Inc. (NASDAQ:SNOW)
Number of Hedge Fund Holders: 94
Snowflake Inc. (NASDAQ:SNOW) is one of the 10 tech stocks on Wall Street’s radar right now. On June 6, Oppenheimer raised Snowflake Inc.’s (NASDAQ:SNOW) price target to $250 from $225, while maintaining an Outperform rating. As the firm revised the company’s price target, it pointed toward Snowflake’s Summit’25, which took place in the first week of June. Its keynote speakers included some well-known faces, including Sridhar Ramaswamy, Sam Altman, and Sarah Guo.
Oppenheimer noted that the event emphasized stronger data lifecycle support, faster product development, and entry into transactional workloads following the Crunchy Data acquisition. Snowflake (NASDAQ:SNOW) announced at the event that it plans to acquire Crunchy Data, a leading open-source Postgres provider, to launch Snowflake Postgres, which is an enterprise-grade PostgreSQL database tailored for AI applications.
Oppenheimer’s data shows that customer feedback revealed rising adoption of Snowflake due to its user-friendly platform. The firm believes the company’s broader product range reflects stronger execution and adaptability, which encourages customers to store more data and develop more applications on its platform.
Snowflake (NASDAQ:SNOW) offers a cloud-based data platform that helps organizations centralize their data to generate insights, develop data applications, share data products, and apply AI to address business challenges.
2. Micron Technology, Inc. (NASDAQ:MU)
Number of Hedge Fund Holders: 96
Micron Technology, Inc. (NASDAQ:MU) is one of the 10 tech stocks on Wall Street’s radar right now. On June 5, Mizuho raised its price target for Micron Technology, Inc. (NASDAQ:MU) to $130 from $124 and maintained an Outperform rating ahead of the company’s FQ3 ’25 earnings report.
The firm expects industry-high bandwidth memory revenue to grow 55% yearly through 2027. Additionally, the company’s high bandwidth memory revenue is projected to increase 90% annually due to market share gains, reaching 45% of its DRAM revenue, which could increase sales and margins.
On the same day, UBS increased its price target for Micron (NASDAQ:MU) from $92 to $120 while maintaining a Buy rating. The analyst pointed toward a more favorable outlook and reduced concerns over tariffs as reasons for the revision.
Micron (NASDAQ:MU) develops and sells advanced memory and storage products, including DRAM and non-volatile semiconductor devices, and it serves a wide range of markets such as data centers, PCs, mobile devices, and automotive.
1. Broadcom Inc. (NASDAQ:AVGO)
Number of Hedge Fund Holders: 158
Broadcom Inc. (NASDAQ:AVGO) is one of the 10 tech stocks on Wall Street’s radar right now. On June 6, Truist analyst William Stein increased his price target on Broadcom Inc. (NASDAQ:AVGO) to $295 from $267 and maintained a Buy rating after the company posted solid results for FQ2 2025.
The firm noted that the stock dipped due to limited immediate AI upside, compared to investor expectations. However, Stein believes that Broadcom’s (NASDAQ:AVGO) long-term AI outlook remains strong and expects new customer gains to be a prospect for future growth.
The company reported strong Q2 results, with adjusted earnings per share of $1.58 and revenue of $15 billion, which was a 20% year-over-year growth. The company posted $10 billion in adjusted EBITDA, which represented 67% of revenue, and generated $6.4 billion in free cash flow. For the third quarter, the company projects revenue around $15.8 billion and expects adjusted EBITDA to reach at least 66% of that total.
Broadcom (NASDAQ:AVGO) has transitioned from a traditional semiconductor company into a core provider of AI infrastructure. Despite a pullback after earnings, AI revenue surged 46% year-over-year to $4.4 billion, supported by strong networking demand, while non-AI semiconductor and infrastructure software segments were weaker. However, strong momentum is projected into Q3.
Broadcom (NASDAQ:AVGO) develops and supplies advanced semiconductor devices and software solutions used across a wide range of technologies, including AI networking, wireless connectivity, storage systems, and industrial automation. The company’s products support important functions in consumer electronics, data centers, and communication infrastructure.
While we acknowledge the potential of AVGO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AVGO and that has 100x upside potential, check out our report about this cheapest AI stock.
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Disclosure: None.
