SA Asks: Which tech stocks could rise or fall on a Harris win?
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With Election Day less than two weeks away, many investors are pondering how the outcome of the U.S. presidential election could impact specific sectors.
On Saturday, we asked our analysts which tech stocks they thought could rise or fall on a Trump win. Today, we ask: which tech stocks could rise or fall on a Harris win?
Seeking Alpha analysts Uttam Dey, Noah Cox of Noah’s Arc Capital Management and Julian Lin gave us their thoughts on the topic.
Uttam Dey: If Harris wins, the usual thumb rule would apply that solar stocks get a leg up from familiar policies that support green energy. But many markets within renewable energy are caught within cross currents and still face some headwinds, so known names such as Enphase (NASDAQ:ENPH) and other solar stocks should be overlooked for now.
Harris’s policies will continue, in many ways, to build on the policy framework that was set during the Biden administration. Antitrust regulation and re-shoring of critical technologies are something that are top of mind. Intel (NASDAQ:INTC) is one name that is still beaten down and would get support from the government under a Harris administration. Even cybersecurity stocks such as Palo Alto Networks (NASDAQ:PANW) would do well under a Harris administration.
Noah Cox: Most of the big tech companies — Google (NASDAQ:GOOGL), for example — will likely do well under a Harris administration. While the Biden administration is suing Google (GOOGL) for antitrust, I expect a Harris department of justice would take a slightly softer approach to Google (GOOGL), given they are from Harris’s home state.
Trump Media and Technology Group (NASDAQ:DJT) feels like a loser under a Harris administration. I am already bearish on the firm, regardless of who wins the election.
I think the main value proposition for DJT (DJT) is Trump himself. If he is not president, I think this value proposition is diminished.
Julian Lin: I think the tech sector likely moves up, regardless of which candidate wins. Some have speculated that Vice President Harris’s ties to California and Silicon Valley may help the sector if she’s elected, but President Trump may pose a lesser risk as far as Big Tech regulation.
Readers interested in investing topics tied to the upcoming election can find more information at the upcoming Seeking Alpha Investing Forum: Election 2024; please visit the event website.