Dan Ives, managing director at Wedbush Securities, predicts a long bull market for the tech sector, fueled by the ongoing AI revolution. He believes we’re only at the beginning of a major tech boom.
AI: The Driving Force
In a recent CNBC interview, Ives highlighted the expanding influence of AI across various tech sectors. He stated that the secondary and tertiary effects of AI are just starting to be felt, impacting software, semiconductors, and consumer tech. He sees this as a key driver for significant Nasdaq growth, potentially reaching 22,000 or even 23,000 points.
Market Dips? Buy the Dip!
Ives views temporary price drops as buying opportunities rather than reasons for concern. His investment strategy centers on identifying strong fundamental stories, and he believes the tech sector’s story is just unfolding. He’s confident that a three-year bull market for tech stocks is still ahead.
Nasdaq on the Rise
At the time of writing, the Nasdaq Composite is at 20,601 points, up 1.02% in the last 24 hours.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before making any investment decisions.
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