Wedbush’s Dan Ives Says Tech Bull Market Just Starting, Predicts ‘Very Strong Second Half’ of Year – Here’s His Top Picks
The managing director of the monetary providers agency Wedbush Securities is anticipating stable features from tech shares within the second half of the 12 months.
Throughout an interview on Bloomberg’s The Shut, Dan Ives says the shares of the expertise titans Nvidia and Microsoft will present vital returns later this 12 months as synthetic intelligence (AI) continues to achieve momentum.
“That is simply beginning by way of this subsequent stage of the AI revolution. I believe as we go into the software program section, you see on the patron aspect, in terms of AI, I consider that is nonetheless the underside of the primary, prime of the second inning. That’s why Nvidia, $4 trillion, in the end [will be] $5 trillion. Microsoft, we expect is on the highway to $4 trillion after which $5 trillion.
It’s our view that this tech bull market… Get the popcorn out, I believe it’s going to be a really sturdy second half.”
He additionally shares his ideas on Uber amid stories that the transportation service firm is negotiating with its former CEO, Travis Kalanick, to doubtlessly fund the acquisition of the US arm of the Chinese language autonomous automobile firm Pony AI.
“While you take a look at the subsequent section, in terms of bodily AI, it’s about autonomous and Uber… Uber must undoubtedly deal with partnerships and increasing their repertoire in terms of autonomous. This could be a wise, strategic transfer, aggressive in the event that they did it.”
Ives says he’s usually optimistic in regards to the tech sector, together with older corporations like IBM.
“I believe that’s going to be the subsequent chapter in terms of AI, nevertheless it speaks broadly to our view of tech, from robotics to autonomous to enterprise to shopper AI. Throughout the board, I imply, that is, I consider, a golden age for tech.”
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