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It's been a rough few days for the markets and big tech is not immune, but our next guest thinks now is the time to go bargain hunting for top tech names. Here for more on this week's moves, got Dan Ives, Wedbush Securities managing director and senior equity research analyst. Dan, always good to see you, my friend. So, let's start big picture, Dan. You look at big tech, and many of these names you cover, you know them very well, Dan, and from Apple to Nvidia, you know, they've been getting whacked. I'm just curious to get your take, big picture, Dan, on the moves we've seen and whether you think that selling pressure, is it justified, Dan?

Yeah, look, it's a great point. I mean, look, I'm ironically here in Tokyo to Does the Yen carry trade change the AI revolution? No. And it's like my point is we look at what's happening from modernization in a once in a 40-year cycle. This is unique. And that's why for big tech, these are the buying opportunities. That's how we've always navigate these global sort of white knuckle moments. You buy high-quality, large cap tech, and that's what we were telling our investors the last 24, 48 hours.

And how are they receiving that, Dan? I'm just curious, right? Because we do have this turmoil that's been hitting the market, volatility hitting the market, whether it's because of the carry trader or because in some cases there are some real concerns about the pace of economic growth here reflected by the uptick in the unemployment rate, etc. So, are they are they reassured? Or is there still a lot of concern out there?

I'd actually I'd say probably my conversations over the last week, especially over the weekend and going into yesterday, probably some of the nervous I've seen investors since COVID lows in terms of March 2020. But then you look at the fundamentals. I mean, we just came through a tech earning season that was actually pretty robust relative to, I think, big tech cloud and AI. Look at Palantir last night, just another monster performance. So we're kind of looking at, what do the fundamentals look like here in Asia? We don't see any issues in terms of demand, and I think we'll hear this from Nvidia in the next few weeks. These are the opportunities. If you're a believer like we are, and this is not ending the tech bull market, but again, I was I was getting nervous, you know, hearing from a lot of bears I haven't heard from in 18 months. It was good to make sure that they were good, hearing from them the last week.

Dan, let's get to some other names. I know you cover. Uber is another one, right? Reported this morning, investors like what they heard. Clearly, look at this stock. It's up about 12% right now. Curious to get your thoughts on that name, Dan. And also, do you think there's a positive read through here to Lyft, which reports tomorrow?

Look, this is a stock that I think got just massively hit. I think some worries about robo taxi, and then just others in terms of the macro. Look, as Julie's question, and you talk about indicators, what we're seeing in terms of the consumer and just the overall environment. I mean, this was very bullish for Uber. I thought Dara's doing a great job, not just on top line but profitability. You know, and then you look going forward. Actually, they're getting more and more market share. And that goes back to the Lyft, not necessarily, I mean, obviously, a decent read through, but Lyft continues to be that little brother to Uber, and that's why we continue to like Uber over Lyft.

Something else that I know that Uber emphasized here is the autonomous driving, you know, the robotaxi business that they're already getting. And I find this a really fascinating theme here, Dan, because, um, you know, Tesla talks all about autonomous driving, but there are actually companies doing it, and they're not getting as much attention. And so I thought it was interesting that Uber sort of emphasized that aspect.

Yeah, and I thought that's not coincidental. I mean, they wanted to make sure don't forget about us in terms of what's happening. Uber. Look, look at Waymo. I don't think Alphabet's getting any credit in terms of that. Yeah. In terms of what they're doing. But look, this all comes down to Robo Taxi Day, 1010. I mean, what Musk and I think Tesla are going to come out with, I think, could be eye-popping, and I think it's really going to put more and more pressure on Uber, on the overall industry, to accelerate what I ultimately view as the autonomous future.

Let me get you, Dan, your quick take on on that Google news, as well, the monopoly ruling. I'm just curious how you're thinking through that and maybe the effects, the impacts. Are you getting questions from clients, Dan, about what that means for Apple potentially?

Yeah, look, we put a note out basically putting scenarios. They're clearly appealing. This would go through the process. I believe it's going to be probably somewhat less onerous, you know, where they're going to try if ultimately they do not win their appeal to do something with Apple in some sort of way that I don't think is going to be necessarily that money that they pay Apple just going away. And even though this has been there for the last few years, we've seen before from Microsoft to Apple to Amazon to others, I do think you got to be cautious here in terms of the overall regulatory, but not necessarily view this as sort of gospel. In other words, I think there's a lot of things that could happen here, which is why we didn't view this for alphabet perspective as necessarily the game changer.

Um, so, Dan, to circle back around to the beginning here, um, I'm just curious if you're we know you're still a bull on on most of these these big cap tech stocks, what brings the market back to stability and rally mode? Do we have to wait until Nvidia at the end of the month? Is there something else that you think could be a potential catalyst?

Yeah. Yeah. Well, clearly Nvidia, that's going to be huge in terms of demand and just overall what we're seeing, no different than Microsoft and some of these other things we've seen from conference calls. And then it comes down, Julie, it's like, show them on utilization. I mean, you look in at Dell, they talked about, we should probably set by the end of this year potentially into January. You see more and more data points supporting that numbers go higher for 2025, still that soft landing environment. And I also think an advertising rebound. You're now going to start to see that second, third, fourth derivative of AI. I think Palantir is a good example, start to now play out in this market. And many have been wanting to get these stocks at lower prices. And these are the opportunities on these macro white knuckle moments in my opinion.

Dan, good to see you. Hope you can get some sleep over there in Tokyo. Thanks a lot for joining us. Appreciate it.

Pleasure.