Some Wall Street investors may be wary of technology right now, especially in the wake of the collapse of Silicon Valley banks. But others see the volatility as an opportunity to snap up some tech stocks. After rebounding at the start of the year, the Nasdaq Composite is down more than 5% over the past month. Morgan Stanley listed its top picks in the technology sector in a March 13 report. Here’s what the bank’s analysts, including top strategists including Mike Wilson, have to say about three of them. Advanced Micro Devices Morgan Stanley said it has long favored buying semiconductor stocks at times in the cycle when “companies are undersupplied to end-market demand and visibility is low.” That suggests Advanced Micro Devices is a buy, according to the bank, adding that the situation “characterizes” half of the company’s current business and that a recovery could come in the second half of 2023. “The other half of the company’s business, its data center computing products, aims to capture significant share gains in one of semiconductor’s best end markets, helping the company differentiate itself from its peers even in the face of potential customer budget cuts ,” analysts at the bank wrote. Morgan Stanley has an Overweight rating on AMD with an $87 price target — a level the stock reached on March 14. ServiceNow Cloud services company ServiceNow is one of the companies “best positioned long-term” in the software space, according to Morgan Stanley, given the company’s prioritization of “digital transformation” in IT spending. “The combination of durable revenue growth and operational efficiencies make NOW our top choice in the current environment,” the bank said. It gives ServiceNow a price target of $612, representing an upside of about 44%. Amazon Morgan Stanley sees Amazon as the best-positioned large internet company with “durable retail revenue growth and impact retail profitability.” The bank said the company’s business is likely to re-accelerate in August, with improved margins. The analyst added that Amazon is currently trading at a 55% discount to its historical average. It has a $150 price target on Amazon, representing an upside of nearly 60%. — CNBC’s Michael Bloom contributed to this report.