Tech Stocks Set to Soar in Three-Year Bull Market, Says Wedbush Securities Managing Director
Wedbush Securities managing director Dan Ives is optimistic about the future of tech stocks, predicting a three-year bull market for the sector. In a recent interview with CNBC Television, Ives highlighted the role of the artificial intelligence (AI) revolution in driving the surge in tech stocks.
“I think we’re just beginning this golden age for tech. And the reason I think tech stocks are up 10 to 15% in the second half of the year is because the second, third, fourth derivatives of AI, they’re just starting to play out. I mean, when you look across software, you look across semis, you look across the consumer report.
And to me, that’s really the focus here – is that as the AI revolution plays out, that’s how I think you get to Nasdaq 22,000 or 23,000.”
Ives sees price dips as opportunities rather than risks, encouraging traders to capitalize on them. “I view those as opportunities. I mean my whole career, those are the opportunities, if you think the fundamental stories are playing out. And I think when it comes to tech, this is just starting. I think it’s a three-year tech bull market still ahead of us.”
At the time of writing, the Nasdaq Composite stands at 20,601 points, marking a 1.02% increase in the last 24 hours.
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