Tech Stocks Face Short-Term Turbulence but AI Growth Narrative Remains Intact, Says Wedbush’s Ives
The NASDAQ's recent 4.5% retreat from October highs has sparked a 'mini panic' among tech investors, but Wedbush analyst Daniel Ives frames this as a temporary recalibration rather than a structural shift. Market jitters stem from adjusted AI spending expectations and delayed rate-cut timelines, yet Big Tech demand signals remain robust.
Ives, architect of the Wedbush AI Revolution ETF (IVES), dismisses dot-com bubble comparisons, calling AI adoption 'the Industrial Revolution of our generation.' The anomaly of Palantir's post-earnings selloff despite stellar results exemplifies market myopia, not sector weakness.