iShares Global Clean Energy ETF seen as buy after 10% dip, boosted by AI and high oil prices

The iShares Global Clean Energy ETF (ICLN) experienced a 10% pullback but remains a strong buy opportunity, according to analyst Mike Zaccardi. The ETF has delivered a 29% year-to-date return, outperforming the S&P 500, driven by momentum in AI and elevated global oil and gas prices. Valuation stands at 25.7 times earnings with a long-term EPS growth rate of 9.1%. Technical indicators and momentum remain positive, with seasonal trends favoring gains in July and August. A breakout above $24 could target the 2021 peak near $34, signaling further upside potential for investors.