On June 17, Tony Wang, Portfolio Manager at T. Rowe Price, joined ‘Closing Bell Overtime’ on CNBC to talk about June’s tech leadership. Wang discussed the dual nature of AI’s impact on companies and noted that it can be both a boost and a drag. He views investing through the lens of an S-curve, with the aim to identify areas where adoption is in its steepest phase. He also pointed to challenges from new players like OpenAI and suggested that younger generations are increasingly using OpenAI as their primary tool for finding information online, which indicates a shift in interaction with the internet.
Wang then discussed the timeline for AI agents becoming a clear and viable alternative to hiring people for enterprise tasks. He predicted a slow start followed by a rapid increase in adoption. This acceleration will occur once enterprises integrate data and bravely implement these technologies. He believes that once one company in an industry successfully adopts AI agents, others will be compelled to follow suit to avoid a cost structure that puts them at a disadvantage. He concluded that this shift will likely happen quickly, although not in the next few months.
That being said, we’re here with a list of the 12 best technology stocks according to Wall Street analysts.
A technician installing a complex of microcontrollers and internet of things devices inside a server rack.
Methodology
We used the Finviz stock screener to compile a list of the top tech stocks. We then selected 12 stocks that had a high average upside potential of over 25%. The stocks are ranked in ascending order of their average upside potential. We’ve also added the hedge fund sentiment for each stock, which was sourced from Insider Monkey’s database, 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).
12 Best Technology Stocks According to Wall Street Analysts
12. Five9 Inc. (NASDAQ:FIVN)
Number of Hedge Fund Holders: 44
Average Upside Potential as of June 19: 27.92%
Five9 Inc. (NASDAQ:FIVN) is one of the best technology stocks according to Wall Street analysts. Earlier on June 10, Five9 announced the launch of Agentic CX, which featured new AI Agents and AI Trust & Governance at Customer Contact Week in Las Vegas. The advancements were powered by the Five9 Agentic Experience Engine, which is central to the company’s Genius AI Architecture.
The advancements are designed to revolutionize customer experience with AI that reasons, decides, and takes action autonomously, without compromising on control and security. For rapid deployment, Five9 provides pre-built templates for specific industry verticals that customers can customize. Additionally, Code Crafter uses LLMs to generate high-quality JavaScript functions, which reduces development effort.
Some of the key features include an AI Summary Node, which automatically summarizes voice and digital interactions in selectable languages to provide context for live agents or future reference. Intent Detection and Entity Extraction use LLMs to facilitate natural dialogues and ensure quicker resolution of customer inquiries. Similarly, a Knowledge Node utilizes Retrieval Augmented Generation/RAG to generate contextual answers based on enterprise knowledge.
Five9 Inc. (NASDAQ:FIVN) provides an Intelligent CX Platform for contact centers internationally.
11. Enphase Energy Inc. (NASDAQ:ENPH)
Number of Hedge Fund Holders: 40
Average Upside Potential as of June 19: 34.69%
Enphase Energy Inc. (NASDAQ:ENPH) is one of the best technology stocks according to Wall Street analysts. On June 18, RBC Capital analyst Christopher Dendrinos adjusted the price target on Enphase Energy to $28 from $50, while maintaining a Sector Perform rating on the shares. This revision was primarily a response to the proposed Senate reconciliation bill, which is expected to impact the clean energy sector.
RBC’s analysis assumes that the bill passes with its current Senate-proposed provisions, which would lead to lowered demand and margin assumptions for residential solar companies like Enphase Energy. This is due to expected residential solar lease restrictions and the termination of 25D tax credits. While the Senate’s proposed revisions are seen as more favorable than the House version in some aspects, the restriction on the stacking provision is considered more restrictive by RBC.
In Q1 2025, the company showed a revenue of $356.1 million, which included $54 million of Safe Harbor revenue. ~1.53 million microinverters and 170.1 megawatt-hours of batteries were shipped in Q1. For Q2, Enphase Energy provided revenue guidance of $340 to $380 million. The company is expanding its product offerings with the launch of the fourth-generation IQ battery and the IQ9 microinverter.
Enphase Energy Inc. (NASDAQ:ENPH) designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry internationally.