Dan Ives Calls August Slump Half-Time Of A 'Super Bowl' Rally In Tech, Targets Nvidia, Apple
Portfolio Pulse from Adam Eckert
Wedbush analyst Dan Ives predicts a massive tech rally led by Nvidia and Apple. Despite Nvidia's stock closing flat after a strong report, Ives believes the stock will rise significantly due to unprecedented growth. He also expects a 12% to 15% rally into year's end and anticipates the momentum will continue in 2024. Ives also highlights Apple, expecting the next iPhone cycle to be underestimated by the Street. At publication time, Nvidia shares were up 4.26% and Apple shares were up 1.94%.
August 29, 2023 | 6:48 pm
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POSITIVE IMPACT
Analyst Dan Ives highlights Apple, expecting the next iPhone cycle to be underestimated by the Street. At publication time, Apple shares were up 1.94%.
The analyst's positive outlook on Apple, based on the expected underestimation of the next iPhone cycle, suggests potential growth for the company's stock. This could attract more investors, driving the stock price up.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Despite Nvidia's stock closing flat after a strong report, analyst Dan Ives predicts significant growth and a rally into year's end. He anticipates the momentum will continue in 2024.
The analyst's positive outlook on Nvidia, based on its strong report and the expected tech rally, suggests potential growth for the company's stock. This could attract more investors, driving the stock price up.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100