Research
Loading latest report…
Loading research access…
Information on this site is for informational purposes only and is not investment advice. Always do your own research and consult a licensed advisor before making financial decisions. Data timestamps use US Eastern Time unless noted.
UBS
Sep 17, 2026 · SSNC, T, ECHO
Tags: US-TMT top-picks AI-infrastructure cloud software semiconductors internet telecom payments
Value Score: 8.0/10
Core Conclusion: UBS frames its US Technology, Media & Telecom top-picks list as a stock-selection roadmap for investors who want exposure to AI, cloud, digital transformation, and selective valuation recovery. The list is not a single macro call; it is a cross-sector set of Buy-rated names where UBS sees unique growth drivers, estimate upside, or mispriced secular exposure.
The report names 14 Buy-rated highest-conviction calls across TMT. The list spans SS&C Technologies, AT&T, EchoStar, Amazon, Pinterest, TD SYNNEX, Spotify, Mastercard, Global-e Online, Texas Instruments, Palantir, Procore, JFrog, and Celestica. Target-price upside ranges from 16% for AT&T to 76% for Pinterest.
Source: Figure 1: US TMT highest-conviction calls
The highest-upside calls are not all in one subsector. UBS shows the largest upside in Pinterest (76%), EchoStar (63%), Global-e (48%), Palantir (45%), Texas Instruments (44%), and Procore (43%). That mix matters because it spreads the call across internet advertising recovery, spectrum/SpaceX value, cross-border commerce, AI/data software, analog semiconductor recovery, and construction-software reacceleration.
AI infrastructure remains the central thematic backbone. UBS argues the AI infrastructure cycle is still early: cloud demand is accelerating, hyperscaler operating cash flow can fund more capex, compute remains scarce, and enterprise AI adoption is underpenetrated. The report notes that only 8% of surveyed firms have deployed AI agents at scale, implying the next leg may come from enterprise adoption rather than only hyperscaler buildout.
AI enablers and compute infrastructure: UBS favors Texas Instruments and Celestica as AI infrastructure beneficiaries with valuation or estimate gaps. TXN is positioned as an analog share-gain and FCF acceleration story as the upcycle broadens, while Celestica is tied to hyperscaler Ethernet switching and a 2027 OpenAI customer ASIC ramp.
Cloud and internet scale platforms: Amazon remains UBS's large-cap internet top pick because UBS expects AWS growth and operating income margins to stay ahead of Street expectations. The report also
