Dan Ives is managing director and senior equity analyst at Wedbush Securities, as well as a technology sector specialist with a quarter-century of experience in the space. In this interview, he calls 2024 a “table pounding period” for tech, with the sector likely rising another 20% for the year and “Magnificent Seven” names tacking on as much as 40%. In fact, he labels this a “1995 moment” with Artificial Intelligence (AI) probably “the biggest transformational tech trend we’ve seen in 30 years.”

Dan goes on to explain that AI spending currently accounts for only 1% of IT budgets, but that it should climb to 8% to 10% in the next year. That will help drive well-known “AI stocks” like Microsoft (MSFT) and NVIDIA (NVDA) higher, with gains spreading to “second-, third-, and fourth-derivative” names over time. He then discusses other sector drivers like increased digital advertising and cybersecurity spending, and notes that a strong holiday shopping season should help consumer tech plays like Apple (AAPL).

We wrap up with a discussion of the future for tech IPOs, the impact of Tesla’s (TSLA) Cybertruck rollout on its shares, and the lessons that founders, boards of directors, and public and private sector investors can take away from the OpenAI/Sam Altman saga. Finally, he gives a sneak peek of what he’ll discuss at the 2024 MoneyShow/TradersEXPO Las Vegas, set for Feb. 21-23, 2024, at the Paris Las Vegas. Click here to register: https://conferences.moneyshow.com/mon...