While Trump’s antitrust agendas remain uncertain, there seems to be growing optimism that he'll employ a more hands-off approach compared to Biden.

“We expect tech stocks to rally further into year-end as the Street further digests a less regulatory spider web under Trump with Khan/FTC days in the rear view mirror, stronger AI initiatives within the Beltway on the way, and a goldilocks foundation for Big Tech and Tesla looking into 2025 and beyond,” Wedbush’s Dan Ives wrote in a recent note to clients.