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- Tech stocks have struggled in August, with Treasury yields spiking and investors fretting about the Federal Reserve's interest-rate hikes.
- But "a tidal wave of AI-driven spending" will fuel another rally, according to Wedbush.
- "Despite a stubborn 10-year and the Fed, tech goes higher," analyst Dan Ives said in a research note.
Expect tech stocks' stellar run to continue thanks to a looming surge in spending on AI, according to Wedbush.