This chart of the Nasdaq 100 Technology index looks promising to me. It is building a tight pattern around 10,000. I think it will break higher, probably sooner rather than later.
Recently I have come across a US investment analyst called Dan Ives. His name is popping up everywhere and he is a man after my own heart. He works at a firm called Wedbush Securities and he does not hold back. Among recent predictions, he sees Palantir Technologies at $110 and each of Apple, Nvidia and Microsoft reaching valuations of $4 trillion in 2025.
Below are some of his thoughts.
There are few Wall Street analysts more bullish on the technology sector than Wedbush Securities’ Dan Ives. He expects artificial intelligence to keep lifting tech stocks next year.
Apple will be the first company to ever reach a market valuation of $4 trillion, swiftly followed by Nvidia and Microsoft, according to Ives. That’s a triple endorsement for AI to boost devices, chips, and software sales. And the analyst’s enthusiasm isn’t limited only to the biggest companies.
“We expect tech stocks to be up another 25pc in 2025 under our base case,” Ives wrote in a research note.
Among other individual stocks, Ives picks out electric-vehicle maker Tesla as set to reach a market value of $2 trillion by the end of 2025, up from around $1.36 trillion as of Wednesday’s close. He is also backing AI software company Palantir Technologies to have a “breakout year,” despite some market concerns about its already high valuation.
Barrons, 12 December 2024
You’re my man, Dan. Like all of us, he is not infallible but on the right side of history.
Share Recommendations (20 December 2024)
Apple AAPL
Nvidia. NVDA
Microsoft. MSFT
Palantir. PLTR
Tesla. TSLA
Apple (AAPL, Financials) is projected to become the first company to hit a $4 trillion market cap in 2025, followed by Nvidia (NVDA, Financials), according to Wedbush Securities analyst Dan Ives.
Ives pointed out Apple’s impressive installed base of more than 2bn iOS devices and the possibility for 300m iPhones to start an upgrading cycle. Emphasizing Apple’s services sector, estimated at $2 trillion, and its part in consumer artificial intelligence which, via the company’s ecosystem is projected to drive more expansion he also stressed its role.
Wedbush maintained Apple’s Outperform rating while aiming for a $300 price target. Driven by AI-related improvements, the company forecasts Apple might sell over 240m iPhone devices in 2025, therefore marking a record year for iPhone sales.
The company observed that about 100m iPhones in China alone are probably ready for updates in 2025. Apple’s next iOS 18.2 upgrade also marks a new chapter for its AI-driven devices.
Apple’s $4 trillion market valuation estimate by Ives is not novel. Citing significant expansion and monetization, he projected Apple will hit this mark by the end of 2024 in December 2023. He saw in June 2024 Apple’s AI announcements as a major driver behind hitting the $4 trillion threshold in a year.
Additionally Wedbush believes Nvidia will join Apple in the $4 trillion market value club by 2025. Earlier in October 2024 and in June, the chipmaker momentarily ranked higher than Apple among the most valuable companies worldwide; later on, Microsoft (MSFT, Financials) topped both of them.
GuruFocus, 28 October 2024
The Apple chart looks amazing.
Strategy – Stay Bullish And Enjoy Christmas
Thanks to all my subscribers for their loyalty. Have a great Christmas and a Prosperous New Year and let’s keep enjoying the journey together.
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