In an interaction on CNBC’s ‘Squawk Box’, Ives advised investors to remain focused and not get too nervous following the recent correction in technology stocks, adding that there will be phases when stocks decline.
Wedbush Securities Managing Director Dan Ives on Friday reportedly brushed aside concerns of an AI bubble, days after OpenAI co-founder and CEO warned about one forming right now.
In an interaction on CNBC’s ‘Squawk Box’, Ives advised investors to remain focused and not get too nervous following the recent correction in technology stocks, adding that there will be phases when stocks decline.
As for bears gaining an upper hand over bulls with respect to AI stocks, Ives said it will happen when there is volatility. “I view those more as golden opportunities to own the tech winners,” he added, according to the report. Ives also pointed out that there will be certain AI winners and losers. Over the next 12 months, he sees an AI-driven market rally that could boost tech stocks by 20% to 25%.
While deciding his AI winner and loser stocks list, Ives said the companies on the winning side have wartime CEOs. On the losing side, Ives called out Adobe’s lack of agility, while stating that Intel was being “run like a government agency,” according to the report.
Here are Ives’ AI winner stock picks:
- Microsoft Corp. (MSFT)
- Amazon.com Inc. (AMZN)
- Alphabet Inc.’s (GOOG) (GOOGL) Google
- Nvidia Corp. (NVDA)
- Tesla Inc. (TSLA)
- Meta Platforms Inc. (META)
- Palantir Technologies Inc. (PLTR)
- Snowflake Inc. (SNOW)
- Salesforce Inc. (CRM)
Here are Ives’ AI loser stock picks:
- Adobe Inc. (ADBE)
- Intel Corp. (INTC)
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