The collapse of Silicon Valley Bank has increased volatility in the tech sector, coming hot on the heels of expectations that interest rates are likely to remain high for some time. The tech-heavy Nasdaq Composite closed 0.45% higher on Monday. That’s after sliding 1.76% on Friday after the closing of Silicon Valley Bank. Crypto-focused Signature Bank is also closed. Meanwhile, Fed Chairman Jerome Powell said last week that interest rates would remain “higher than previously anticipated” – usually seen as bad news for the tech sector. Earnings misses and a series of layoffs at the tech giant, including planning a second round of redundancies at Meta, have further compounded nervousness in the sector. But some market pros see volatility as an opportunity to acquire growth stocks at low prices. “We think that for medium-term and long-term investors, the recent volatility that you’re seeing is a buying opportunity,” Anthony Doyle, chief investment strategist at Firetrail Investments, told CNBC on Monday. He said some tech company valuations have been “severely hammered.” Meanwhile, Phillip Wool, managing director of Rayliant Global Advisors, added: “The result is that we are bearish on US stocks in general, although this will give way to bargain hunting as the damage from the Fed’s policy emerges and greed becomes a fear.” Big Tech stock picks Speaking last week, before the sell-off, Sylvia Jablonski, chief investment officer at Defiance ETFs, urged investors to watch the pullback. “Over the past several decades, the market’s top days have occurred during recessions, crises or downturns,” he said in an emailed note to CNBC. “If you are an investor, and you are in beyond 2024, where we will have less certainty at that time, we would think that there is a high probability that you will buy. [at] the rate is lower today than you will be at that time and certainly a decade from now,” he added. Meanwhile, Barbara Doran, CIO at BD8 Capital Partners, believes that technology has “really been playing” and “holding up,” despite concerns about higher interest rates. He said he is refocusing on big tech names with the promise of artificial intelligence – the hottest tech theme this year – and “historically interesting” valuations. % to 35%. But despite gaining about 50% this year. Meta users and engagement continue to increase across all platforms, according to Doran, with the company also increasing monetization of the Reels platform and increasing financial discipline. Apple is another stock he likes, citing its growing market share in high-end smartphones in outside the U.S., as well as its ability to take market share from its main competitor Samsung. Defiance’s Jablonski said that the top stock picks from Wall Street banks eet main ties to AI and machine learning. “Looking at a basket of stocks ranging from semiconductors, quantum computing, AI and machine learning, stocks that are leaders in this space may pay off in the long term,” he said. AI is expected to grow at a compounded rate of 37% by 2026, Jablonski added, citing research by global market intelligence firm International Data Corporation. “That’s not too far off.” Jablonski identified Microsoft, Nvidia, Advanced Micro Devices, Alphabet and Amazon as leaders in the space and believes now is a “good opportunity” to increase exposure as they are trading at “double digits from their 52-week high.” Defiance ETFs manages The Next Generation Quantum Computing & Machine Learning ETF. The exchange-traded fund was up more than 11% at the end of February. Amy Kong, chief investment officer at CI Barrett Private Wealth, likes Microsoft, calling it a “star company” with a good business model. He added that the company generates a lot of free cash flow, has “more growth engines” relative to Alphabet, and is expected to grow its cloud computing business by about 30% over the next quarter. Firetrail Investments’ Anthony Doyle also identified Microsoft as a tech stock he is bullish on, despite the volatility.