On Monday, industry expert and tech analyst Dan Ives spoke out about the potential boom of artificial-intelligence-related (AI) tech stocks, favouring the AI boom that is predicted to fall in Q1 & Q2 of 2024.
NASDAQ underestimates tech and AI boom as shares predicted to skyrocket
Ives, and a string of other Wall Street tech analysts, suggested that the pace of IT expenditure and endorsement is no match for the money being pumped into AI resources at present, and, according to experts, this is set to continue.
Wedbush Securities Inc., a global private investment firm, seconded Ives’ statement, noting that stock markets are still severely underestimating the transformative future that an AI and cloud-focused spending spree will bring. One analyst from the investing company based in Los Angeles compared the benefits of an AI boom to the birth of the Internet in 1995.
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Dan Ives Source: LinkedIn
Ives also noted:
We believe the new tech bull market has now begun, and tech stocks are set up for a strong 2024 with tech stocks we expect to be up 20%+ over the next year, led by Big Tech as the AI spending tidal wave hits the shores of the broader tech sector.
Wedbush also addressed the importance of the $1tn spending due to boost AI performance over the coming decade following the frenzy for GPU chips from AI giants Nvidia and Redmond, suggesting that NASDAQ and other major markets should have more faith in the coming AI stock surge.
