ii Tech Focus: Alphabet, Meta, Netflix, Ondas Holdings
With US technology still a hot sector, ii’s head of investment brings you the latest news, most-bought tech stocks on the ii platform, and forecasts for upcoming results.
16th January 2026 10:41
by Victoria Scholar from interactive investor
A Netflix advert for the fifth and final season of Stranger Things in Los Angeles. Credit: Kayla Bartkowski/Los Angeles Times via Getty Images.
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Alphabet
Alphabet Inc Class A (NASDAQ:GOOGL) reached a stock market valuation of $4 trillion (£3 trillion) on Monday, overtaking Apple Inc (NASDAQ:AAPL) for the first time since 2019 to become the world’s second-most valuable company behind NVIDIA Corp (NASDAQ:NVDA). Investors in Google’s parent company have enjoyed a very strong year, with shares gaining 65% in 2025 thanks to the hype around artificial intelligence (AI).
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Fuelling gains for its shares on Monday was the announcement that Apple chose Google’s Gemini as its preferred AI model to underpin an overhaul for Siri, Apple’s built-in virtual assistant, helping to enhance its AI capabilities.
Also this week, according to the Information, Meta Platforms Inc Class A (NASDAQ:META) is looking at potentially spending billions of dollars on Alphabet’s chips for its data centres from 2027. This is a major early win for the company this year and also supported Alphabet’s share price.
In Alphabet’s latest quarterly earnings release in October, it achieved a top and bottom-line beat with revenue surpassing $100 billion for the first time. Its Google Cloud revenue benefited from strong AI demand, while its YouTube ad revenue also topped expectations.
Last year the release of its latest AI model Gemini 3 was very well received, adding to buying momentum for shares.
Analysts have a consensus buy recommendation on the stock.
Meta Platforms
According to media reports, Meta is planning to cut around 10% of staff in its Reality Labs division, equating to around 15,000 jobs. This signals a shift by the company away from the metaverse and virtual reality towards AI instead.
Mark Zuckerberg’s bet on the metaverse hasn’t gone to plan – the Reality Labs division has lost $60 billion since 2020. Also, Meta’s Llama 4 release last year largely received an underwhelming assessment from the AI community. Analysts have a consensus buy recommendation on the stock.
20 most-bought tech stocks on the ii platform
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Source interactive investor, 12-14 January 2026.
Ondas Holdings
Ondas Holdings Inc (NASDAQ:ONDS) has been one of the most-bought tech stocks on the ii platform so far this week. According to Refinitiv, shares have gained over 10%, 75% and 450% respectively over a one week, one month and half-year time horizon respectively, so it is clear to see why investors want in on the action.
Ondas Holdings is a wireless communications technology company in the US. It says it is “a leading provider of autonomous aerial and ground robot intelligence through its Ondas Autonomous Systems (OAS) business unit and private wireless solutions through Ondas Networks”.
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This week it announced an almost $1 billion direct offering to institutional investors, issuing 19 million of shares at a 17.5% premium to its closing share price on 8 January. Ondas said that it intends to use the net proceeds from the offering for corporate development and strategic growth, including acquisitions, joint ventures, and investments.
This week, Stifel raised its price target on the stock from $13 to $17.
The company has a consensus buy recommendation among analysts.
Week Ahead
Netflix
There are high hopes going into Netflix Inc (NASDAQ:NFLX)’s Q4 results next Tuesday, which means there is a high bar for shares to rally following the announcement, even if numbers are strong. The festive quarter is typically a good time for Netflix with more eyeballs bingeing series and watching films during the holidays.
According to Refinitiv, Netflix is expected to report operating income of $2.9 billion vs $3.2 billion last quarter on revenue of $11.97 billion vs $11.51 billion in Q3. K-Pop Demon Hunters, Stranger Things 5 and Squid Game 3 were among the biggest hits on its platform in Q4. Remember that Netflix no longer releases subscriber numbers, so investors will be focusing more on revenue growth, operating margin, free cash flow, and ad sales.
Last quarter, Netflix delivered a mixed set of results – there was strong revenue growth of 17% and a record quarter for ad sales. However, shares suffered after a Brazilian tax issue resulted in a quarterly earnings disappointment.
Ahead of earnings, there have been media reports that Netflix is preparing an all-cash bid for Warner Bros. Discovery Inc Ordinary Shares - Class A (NASDAQ:WBD)’s studios and streaming assets, an improvement from its previous cash-and-stock deal. Netflix’s sweetened offer would be an attempt to kill off a rival bid from Paramount Skydance Corp Ordinary Shares - Class B (NASDAQ:PSKY). Netflix and WBD agreed to a deal worth $82.7 billion in December, but Paramount subsequently made a hostile takeover bid, which has been rejected.
Shares have struggled since deal talks emerged. However, analysts still have a consensus buy recommendation on the stock with a target price of $126.05, representing more than 40% upside from the current share price.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.