Nvidia (NVDA) and Apple (AAPL) are driving the tech-heavy Nasdaq Composite (^IXIC) into turmoil amid a major sell-off on Wall Street. D.A. Davidson senior software analyst Gil Luria joins Morning Brief to discuss the market movement and his top tech stock picks despite the dip.

"There's traders selling because they're covering their yen carry trade. There's computer algorithmic trading that's selling because those traders sold. And then there's index fund computers that are selling because those two sold. What's not happening is somebody didn't wake up this morning and say Apple, Amazon (AMZN), and Microsoft (MSFT) are worth 5% less than they were on Friday. That's not happening," Luria explains. He says that fundamental-based investors haven't changed their minds since Friday, and the prospects for large cap tech companies will continue to do well.

He adds that there are companies out there that will benefit from AI over the next few years, and that value is not yet reflected in the stock price. He points to Apple as one of those companies as a buying opportunity, explaining its AI integration will drive an iPhone upgrade cycle. He also points to Amazon as another opportunity, noting that its AWS (Amazon Web Services) segment has more room to grow as it strengthens its AI capabilities.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Melanie Riehl