Higher for longer interest rates won't derail the tech sector, Wedbush says

• Technology stocks can navigate a period of higher for longer interest rates, according to Wedbush.
• That's because there are strong underlying fundamental drivers like AI that should accelerate growth for the sector.
• Wedbush says it's eyeing the "biggest tech revolution we have seen in 30 years" on the horizon. 

A period of higher for longer interest rates won't derail the technology sector, according to a Thursday note from Wedbush analyst Dan Ives.

The Federal Reserve signaled at the conclusion of the Federal Open Market Committee meeting on Wednesday that the central bank could hike interest rates one more time, and that potential rate cuts in 2024 will be less than what the market expected.