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Expect another big tech rally under Donald Trump on regulation getting defanged. That's the sentiment echoed by Wedbush Dan Ives, who believes tech stocks will continue edging higher in 2025 after hitting record highs in 2024. Senior analysts foresee artificial intelligence propelling big tech to new heights amid increased technology adoption.
While cloud adoption in workplaces increased to 30% at the height of the Covid 19 pandemic in 2020, it is now expected to soar to more than 75% amid growing AI adoption. Likewise, Ives expects increasing demand for AI tools and solutions to propel the excellent tech industry to new heights, with Apple, Nvidia and Microsoft being some of the biggest beneficiaries.
"We are talking about the beginning of what was ultimately now trillion of Capex dollars towards tech. that's why big tech continue to get bigger mag seven everything else and that's not stopping especially with regulatory essentially defanged under Trump administration . Khan will be out the FTC and others, so this is going to be a really golden age for big tech," said Ives in an interview with Schwab Network
While Ives is backing Apple to become the first company to hit the $4 trillion mark on market cap, Tesla will also hit a new milestone. The Wedbush senior analyst expects the electric vehicle giant to hit a new milestone as the biggest beneficiary of friendly policies such as the pulling back EV credits under Trump.
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Tesla Inc. (NASDAQ:TSLA) is one of the stocks that exploded after Donald Trump won the hotly contested presidential election. The company has benefited from growing expectations that it will be one of the beneficiaries owing to strong ties between its chief executive officer, Elon Musk and Donald Trump.
"This was a bet for the ages. Musk betting on Trump is going to change the whole landscape for Tesla autonomous AI regulatory. I think a lot gets massively accelerated EV cash credits gets pulled probably in January that's negative for the industry negative for Detroit... Look I believe that AI alone, the autonomous piece is worth a trillion dollars alone for Tesla stock," said Ives.
Palantir Technologies Inc. (NASDAQ:PLTR) is another stock that Ives believes has been mischaracterized and misunderstood despite being a big perfumer. The senior analyst thinks the software giant is well-positioned to benefit from the AI revolution owing to its ability to capitalize on transformative opportunities.