Jefferies says Microsoft's recent share pullback offers an attractive entry point, citing its $250 billion OpenAI and $30 billion Anthropic commitments. The firm expects record contractual obligations to drive a massive step-up in second-quarter remaining performance, reinforcing multi-year demand visibility for its cloud and AI services.

Raymond James upgraded Alphabet to Strong Buy, arguing its AI stack is shifting into high gear. The firm raised its 2026 and 2027 revenue forecasts, projecting Google Cloud Platform growth to outpace consensus. It expects AI-driven search queries to support stronger cost-per-click growth as the narrative becomes a dominant performance driver.

Stifel initiated Micron at Outperform, betting on a multi-year memory upturn fueled by AI demand and tight supply. The broker sees high-bandwidth memory as a key bottleneck, forecasting significant ASP growth for Micron. Meanwhile, Mizuho sees Arm's 30% sell-off as overdone, pointing to its v9 architecture and custom silicon opportunities.