The Wedbush analyst explains why this Mag 7 stock stands above the rest.
Transcript:
CAROLINE WOODS: So Nvidia of course was the last of the Mag 7 to report. What’s the next catalyst for tech stocks then?
DAN IVES: The next catalyst is clearly going to be U.S.-China, right? Like what we see in terms of deals, chip, more of a pay-for-play model. I think that continues to be the big focus from a tech perspective.
CAROLINE WOODS: And what’s priced in at these levels? Where do tech stocks go from here?
DAN IVES: Look, I think tech stocks are up another 8% to 10% the rest of the year. I think you now have the validation that we see in terms of these names. And I think these stocks continue to move higher based on everything we see playing out across not just earnings but our checks.
CAROLINE WOODS: So when we last spoke in June, I asked if you could only buy one tech stock then what would it be. And you said Palantir. I’m switching my question. If you could only buy one Mag 7 stock right now, which would it be?
DAN IVES: It would have to be Nvidia, because there’s only one chip fueling the AI revolution. And that continues to be the godfather of AI: Jensen, Nvidia.
Subscribe |
Earn. Live. Invest. |
TheStreet Pro |
Watch Dan’s full interview:
#Investing #Stocks #WallStreet
source
