President Joe Biden is set to sign an executive order Friday focused on restricting anticompetitive practices among big tech companies.
The increased antitrust scrutiny creates a 5% to 7% overhang on tech stocks, Wedbush Securities analyst Daniel Ives said Friday on CNBC's "Squawk Box."
If regulatory action is taken, some of the big names in tech could be impacted by up to 10%, the analyst said. This scenario creates about a $20-per-share overhang for Apple Inc (NASDAQ:AAPL) in particular, he said.
Related Link: Apple Stock Reaches Critical Level
One big tech company that may come out of this relatively unscathed is Microsoft Corp (NASDAQ:MSFT), Ives told CNBC.
AAPL, MSFT Price Action: Apple has traded as high as $145.09 and as low as $89.14 over a 52-week period. Microsoft has traded as high as $280.69 and as low as $196.25 over a 52-week period.
At last check Friday, Apple was trading 0.73% higher at $144.29 and Microsoft was down 0.71% at $275.44.
Photo: courtesy of Microsoft.