Renowned analyst at Wedbush: The bull market in US technology stocks is just getting started and will continue for another 2-3 years
Star analyst Dan Ives from Wedbush Securities believes that the ongoing bull market in US technology stocks is just beginning and may continue until 2027. So far this year, the S&P 500 Information Technology sector has surged by as much as 31%, with the corresponding Technology Select Sector SPDR Fund ETF also rising by 20%. Ives predicts that the tech bull market will last for two to three years, with future investors focusing on giant tech companies with market capitalizations ranging from $30 trillion to $40 trillion
According to the financial news app Smart Finance, Dan Ives, the Managing Director of Stock Research at Wedbush Securities and a star analyst, believes that the ongoing bull market in US technology stocks is just beginning and may continue until 2027.
So far this year, the S&P 500 Information Technology sector has surged by as much as 31%, with the corresponding Technology Select Sector SPDR Fund ETF also rising by 20%. The S&P 500 Index has soared to a record level above 5400 points, with the performance of this industry being a key driver of the Wall Street bull market.
Dan Ives, the Managing Director of Stock Research at Wedbush Securities, stated at the Seeking Alpha Investment Summit on Tuesday, "The tech bull market is just getting started."
This analyst is well-known on Wall Street for his bullish views on technology stocks. Ives added that the tech bull market is expected to last for another two to three years, and a year from now, investors will be discussing giant tech companies with market values ranging from $3 trillion to $4 trillion.
Ives mentioned that among the "Big Seven" US tech companies, three companies already have market values exceeding $3 trillion, namely the iPhone maker Apple (AAPL.US), the AI leader Microsoft (MSFT.US), and the recently added chip giant NVIDIA (NVDA.US).
The remaining four giants are also not far behind, with Google's parent company Alphabet (GOOGL.US) having a market value of $2.18 trillion, e-commerce giant Amazon (AMZN.US) with a market value of $1.89 trillion, Meta Platforms (META.US) with a market value of $1.27 trillion, and electric vehicle manufacturer Tesla (TSLA.US) with a market value of $575.31 billion