TECH - Apple Bull Dan Ives Says 'Robust' Tech Earnings Season Ahead: 'Not The Time To Run...Time To Own The Winners' | Benzinga
Apple Bull and Wedbush's analyst Dan Ives brushed aside increasing geopolitical concerns and macroeconomic factors, sounding a bullish note for the tech sector ahead of the March 2024 earnings season. He expects tech stocks to rally 15% in 2024.
What Happened: Ives, who has been bullish about the tech sector, thinks a multitude of factors have aligned to make the first-quarter earnings "robust."
"I think this is going to be a robust tech earnings season next few weeks."
While Nvidia Corp.'s (NASDAQ:NVDA) Jensen Huang and Microsoft Corp. (NASDAQ:MSFT) are leading the "AI revolution," Ives believes other companies are contributing to the second, third, and fourth-order derivatives of "$1 trillion spending" over the next decade, driving the growth in spending and advancing technology, too.
The broader technology index, the Nasdaq Composite, has experienced choppiness over the last month. While the Nasdaq is up 9.54% year-to-date, in the last month, it is up by just 1.26%.
Likewise, while the S&P 500 is up 8.02% year-to-date, its 1-month return is just 0.12%. ...