BUY THE TECH SELL-OFF, SAYS WEDBUSH’S IVES: “THIS IS 1996, NOT 1999”
Tech stocks slid Friday after former President Trump threatened higher tariffs on China and hinted at canceling a meeting with President Xi. The drop followed China’s move to tighten restrictions on rare earth exports starting December 1.Wedbush analyst Dan Ives called it “a high-stakes poker game” between the U.S. and China but urged investors not to panic. Despite short-term volatility, he sees this as a buying opportunity for leading tech names.“The bark will likely be worse than the bite,” Ives said, maintaining a bullish outlook on semiconductors, software, and Big Tech. He highlighted NVIDIA, Microsoft, Palantir (“the Messi of AI”), Meta, Alphabet, and Amazon as key players in the “Fourth Industrial Revolution.”Calling this “a 1996 moment, not 1999,” Ives expects tech stocks to climb another 7% or more by year-end, citing strong AI-driven demand and ongoing investments from OpenAI in NVIDIA and AMD.“Buy the winners, don’t run for the exits,” he concluded.The copyright of this article belongs to the original author/organization.
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