TECH - Dan Ives Says This Will Be The 'Catalyst' For 15% Rally In Tech Stocks In 2024: 'Google Here Could Ultimately Have $30-$40 Upside' | Benzinga
Wedbush's Dan Ives thinks that a culmination of the AI revolution and improving ad spending will make the March quarter "one to watch" for companies in the technology sector.
What Happened: Ives expressed optimism about the prospects of big technology companies in the March 2024 quarter.
"I think it's going to be one for the ages in terms of digital advertising," Ives explained, underscoring that Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google is his top pick for this reason.
Ives thinks that the spending environment in the tech industry is improving. This will help us see the next part of the "AI revolution," according to Ives.
"Big Tech earnings should be robust for 1Q and an important moment to put fuel into this tech rally with earnings/growth moving higher," Ives said in an interview with CNBC.
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Ives has been consistent in his belief that the next phase of the AI ...