Investors looking for bargains across the technology sector have a number of places to look, according to a new report from UBS.

Analysts at the investment bank recently laid out their 12 most "high-conviction" picks within the tech, media and telecommunications sectors. The choices consist of stocks where the analysts believe they have "a differentiated view" based on proprietary data.

One is Amazon.com, which has fallen about 10% this year as investors hesitate to deem the company an artificial-intelligence winner. But UBS's Stephen Ju views the large-cap internet stock as a "coiled spring," noting that Amazon has yet to see the full benefits of AI-infrastructure spending. He's also upbeat on the returns still to come from the company's Amazon Leo satellite business, as well as areas like sports licensing and same-day delivery.

Amazon expects $200 billion in capital expenditures this year - $150 billion of which Ju believes will be deployed to Amazon Web Services. That could drive a significant acceleration in revenue growth for the cloud platform, he wrote. He projected that Amazon's AWS revenue could be up 38% this year, versus 20% last year and the nearly 25% consensus view.

As for large-cap software stocks, analyst Karl Keirstead chose Palantir (PLTR) as his top pick. He said that the company is "at the nexus of the two most powerful spending trends," a reference to AI and data. Keirstead believes that Palantir, as a major infrastructure vendor, will be more insulated than software-as-a-service companies when it comes to AI disruption risk.

UBS's Radi Sultan named JFrog $(FROG)$ as his top choice among small-cap and midcap infrastructure-software stocks. While he acknowledged that the company faces AI risk, he thinks the stock price already reflects that potential threat. JFrog shares have fallen 25% over the past three months.

He also noted that there seems to be "virtually no appetite from customers or partners to move away from JFrog," which helps companies manage and update software. And Sultan sees growing adoption of the company's Artifactory repository for software and code as something that can help the business going forward.

See also: 7 software stocks set to thrive in the face of AI uncertainty

Analyst Taylor McGinnis chose Twilio $(TWLO)$, noting that the company's communications tools for software developers are "underpinning" artificial intelligence, as customers increasingly use the platform to power AI workloads. McGinnis said that the company's usage-based pricing model - compared to the seat-based pricing models of other software companies - is a core advantage.

UBS analysts also named Accenture $(ACN)$, Netflix $(NFLX)$, American Tower $(AMT)$, Global Business Travel Group $(GBTG)$, Mastercard $(MA)$, Global-E Online $(GLBE)$, Entegris $(ENTG)$ and Arista Networks (ANET) as buy-rated top picks.