Dan Ives, Managing Director at Wedbush Securities and one of Wall Street’s most influential tech analysts, argues that despite recent volatility tied to tariffs and geopolitical tension, technology is poised for new highs as the AI revolution enters a pivotal phase. He sees the easing of tariff pressure, stabilization in the Middle East, and normalization of April’s volatility as strong tailwinds.
Short-term bumps in CPI and PPI are expected, but the 10-year near 4.5% already reflects that, and later Fed rate cuts will create a bullish setup for tech.
Ives highlights Nvidia as the undeniable semiconductor leader and Palantir as the top AI software opportunity, alongside hyperscalers like Microsoft, Amazon, and Alphabet, with Tesla leading in applied AI.
Cybersecurity is set to be the next major beneficiary as AI adoption increases vulnerabilities, boosting names like CrowdStrike, Palo Alto Networks, and CyberArk.
Massive CapEx—$325B this year—signals that data-center expansion is still in its early stages.
For the S&P 500, he projects 6,500 as a base case and up to 7,000 if tariffs ease and new trade deals advance, reinforcing a strongly bullish long-term outlook for tech and AI.
