The high-flying tech sector had its fair share of ups and downs in the market this week, with plenty of news about Apple's (AAPL) - Get Report next iPhone, Alibaba's (BABA) - Get Report big growth plans and some extremely bullish calls on Tesla Motors (TSLA) - Get Report and Nvidia(NVDA) - Get Report.
Shares of the 'FANG' stocks hit all-time highs earlier in the week, although they sold off on Friday, pushing several major indexes lower. But mega-cap tech companies, chip stocks and other big tech names had led the broader market's rally earlier in the week.
Nvidia soared to fresh record highs on Thursday after Wall Street assigned its highest-ever price target for the chip giant, while fellow chipmaker Advanced Micro Devices (AMD) - Get Report benefited from a resurgence in Bitcoin and other cryptocurrency.
Here's a breakdown of TheStreet's top five tech ideas you might've missed:
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1. Alibaba is on fire
The e-commerce giant sent Wall Street into a frenzy this week when it said revenue could grow as much as 49% in 2018. The comments came from Chief Financial Officer Maggie Wu at the company's two-day investor conference on Thursday, which caused Alibaba shares to briefly hit an all-time high of $146.47 on Friday. Alibaba chairman and co-founder Jack Ma also gave an ambitious outlook for the company's future, saying he hopes it will grow from a business into one of the largest economies in the world by 2020.
Editors' pick: Originally published June 9.