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Experts including David Rosenberg and analysts from Wall Street banks including Bank of America have compared the AI stock boom to the dot-com bubble that burst in 2000. Here's a selection of the most recent expert views on this year's AI stock boom. But not everyone thinks the AI stock boom has run too far. Michael Hartnett, Bank of AmericaMichael Hartnett, BofA Global Research's CIO, said AI is in a "baby bubble" for now and noted that "AI = internet." Jeremy Siegel, Wharton finance professorThe retired Wharton finance professor doesn't see the AI hype as a bubble, either.
Persons: David Rosenberg, Wharton's Jeremy Siegel, Dan Ives, , Wharton, Jeremy Siegel, Dan Raju, Michael Hartnett, Bank of America Michael Hartnett, BofA, James Penny, TAM Asset Management James Penny, I'd, Art Cashin, Cashin, Rosenberg, doesn't Organizations: Bank of America, Wedbush Securities, Service, Wall, UBS, TAM Asset Management, Nvidia, Microsoft, BofA Global, firm's, Bloomberg, Art, CNBC Locations: Wall
Bull market or fool's market? Investors say the latter
  + stars: | 2023-06-18 | by ( Krystal Hur | ) edition.cnn.com   time to read: +10 min
Mega-cap tech stocks that were battered by rising interest rates in 2022 have also seen a huge boost this year. The Federal Reserve on Wednesday held interest rates steady but indicated that it could hike rates twice more this year. Tech stocks’ record runApple shares closed at a record high on Thursday, creeping closer to reaching a $3 trillion market capitalization. The rally’s next testDespite some bullish signs in the market, investors say the math isn’t adding up to a sustained rally — especially considering a possible recession looms on the horizon. The central bank last Wednesday paused interest rates and indicated that it could raise rates two more times this year.
Persons: Dow, , Amanda Agati, Wednesday’s, Stocks, Joe Biden, Dan Ives, , ” Ives, Richard Steinberg, Jerome Powell, Agati, Sylvia Jablonski, Christopher Waller, Thomas Barkin, ” Waller, Sarah Henry, Henry, Here’s, Price, Refinitiv, Paul Eitelman, ” Eitelman Organizations: CNN Business, Bell, New York CNN, Apple, Nasdaq, PNC Financial Services, Management, , Federal Reserve, Nvidia, Wedbush Securities, Microsoft, The Colony, Treasury, , Federal, Richmond Fed, Logan Capital Management, CPI, PPI, University of, Consumers, North America, Russell Investments, Wednesday, National Association of Realtors, Senate Locations: New York, what’s, Oslo
"You could argue that as Tesla, I've got new products, I need to have a new factory to build them in," he said. "But viewed from the China government's point of view, all they see is a market that's oversupplied." Construction of Tesla's Shanghai plant took less than a year to complete after it broke ground on the site in 2019. U.S. luxury EV maker Lucid Group (LCID.O) is also keen to make cars in China but has been advised that the possibility was low, industry sources said. "China needed Tesla to open the market for retail consumers, but Tesla needs China, because the supply chain benefits of being here and the competitive bar that's set here makes Tesla a more competitive company globally.
Persons: Tesla, Bill Russo, I've, Elon Musk, Ding Xuexiang, Musk, it's, Dan Ives, EVs, Nio, Xiaomi, Automobility's Russo, Zhang Yan, Brenda Goh, Jamie Freed Organizations: National Development, Reform Commission, Tesla, Wedbush Securities, Reuters, HK, Lucid, Thomson Locations: China, SHANGHAI, Shanghai, Beijing, CHINA, United States, Southeast Asia, Canada, India, South Korea, Indonesia
Tornadoes Kill at Least 4 Across the South
  + stars: | 2023-06-16 | by ( Livia Albeck-Ripka | Mike Ives | ) www.nytimes.com   time to read: +1 min
States across the South were assessing storm damage on Friday after a series of tornadoes swept across the region, leaving at least four people dead, including three in Texas, the authorities said. He told CNN that one person died in the trailer park and two others died downtown, and that one person was missing. About 200 homes and the town firehouse were destroyed, and infrared-equipped drones were surveying the damage, he said. Officials in Perryton, about 115 miles northeast of Amarillo, Texas, could not immediately be reached for comment. The Perryton Fire Department said on Facebook late Thursday that the fire station “took a direct hit,” but that its trucks and ambulances were still operable.
Persons: Paul Dutcher, Organizations: Texas Panhandle, NBC News, CNN, Fire, Facebook Locations: Texas, Perryton, Amarillo , Texas
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPalo Alto is shifting into 'its next gear of growth', says Wedbush's Dan IvesDan Ives, Wedbush analyst, joins 'Closing Bell' to discuss his bull case for Palo Alto after increasing its price target to $290 from $225.
Persons: Wedbush's Dan Ives Dan Ives Organizations: Palo Alto
Tornado Kills 3 in Texas and Injures Dozens
  + stars: | 2023-06-15 | by ( Livia Albeck-Ripka | Mike Ives | ) www.nytimes.com   time to read: +1 min
It’s not unusual for officials in Texas to issue heat advisories around this time of year, said Monte Oaks, a meteorologist at the Weather Service’s San Antonio office. They typically do so when high temperatures combine with other factors, including high humidity and westerly winds that blow hot air from high-altitude deserts, he added. In this case, Mr. Oaks said, the humidity is high because Texas had a wetter and stormier spring than usual. But it also means that the hot ground is “cooking a lot of the moisture” and releasing it into the air. But there is enough supply to meet the demand, the company added, and it does not expect an “energy emergency.”Global warming is making dangerously hot weather more common, and more extreme, on every continent.
Persons: Oaks, Cindy Barkley Organizations: Texas, Electric, of Texas, Climate Central, Texas Department of Public Safety, Sheriff’s Locations: Texas, Oaks, Antonio, Mexico
Fox News Chyron Calls Biden a ‘Wannabe Dictator’
  + stars: | 2023-06-14 | by ( Mike Ives | ) www.nytimes.com   time to read: +1 min
A Fox News chyron appeared to refer to President Biden as a “wannabe dictator” during footage of his remarks from the White House on Tuesday, the same day that former President Donald J. Trump was charged with federal crimes in a Miami courtroom. The onscreen text appeared briefly at the bottom of a split-screen broadcast that showed President Biden and former President Trump speaking from respective podiums, at the White House and a Trump golf club in Bedminster, N.J.“Wannabe dictator speaks at the White House after having his political rival arrested,” the chyron read. It did not refer to Mr. Biden by name, but the implication was clear. The alert appeared at the end of the 8 p.m. broadcast of “Fox News Tonight,” a prime-time show that recently replaced one that had been hosted by Tucker Carlson, a popular nightside host who was dismissed by the network in April. The footage of Mr. Biden showed him speaking on the South Lawn of the White House on Tuesday at a holiday event.
Persons: chyron, Biden, Donald J, Trump, Tucker Carlson, Mr Organizations: Fox, White, Trump, “ Fox News Locations: Miami, Bedminster, N.J
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe A.I. 'gold rush' is just getting started, says Wedbush's Dan IvesDan Ives, Wedbush Securities managing director, joins 'Last Call' to break down the A.I. rally and where the space is set to go from here.
Persons: Wedbush's Dan Ives Dan Ives Organizations: Wedbush Securities
As Apple sets a new record, Wall Street remains conflicted over the trajectory for shares in the near term. The iPhone maker notched a new all-time high on Monday, a week after hitting an intraday high . AAPL YTD mountain Apple shares in 2023 But with the jump in shares putting Apple about 2% shy of Wall Street's consensus price target, questions remain over the likelihood of more upside in the near term. As of midday Tuesday, Apple shares traded at a forward price-to-earnings multiple of more than 31 times, above the multiple for the broader S & P 500. Despite Apple's steepening stock price and some reservations about its valuation, many analysts are keeping their bullish stance.
Persons: Paul Meeks, Research's Angelo Zino, Bullish, Dan Ives, Ives, Tim Cook, it's Organizations: Apple, UBS, Securities, Big Tech Locations: Cupertino
Tesla is slowly opening many of its charging stations to vehicles of other automakers. Ford and GM recently said their cars will be able to use Tesla Superchargers. It looks like Tesla's Superchargers are going to win out after all. Tesla's NACS will now compete with two other main charging port types: CCS and CHAdeMO, which companies like Tritium and EVgo also offer. Tesla only recently switched to the name "North American Charging Standard" recently, a move that appears to have paid off.
Persons: Tesla, Ford, Jaan Juurikas, Tesla's NACS, Dan Ives Organizations: Ford, GM, Morning, General Motors, American, Tesla, EV, Hyundai, Kia, Volkswagen, Wedbush Securities Locations: Australian
Today we're bringing you the latest updates on housing, Russia's currency moves, and the outlook for tech stocks. Homebuyers are returning to the US housing market as mortgage rates fall. The housing market isn't getting any more affordable. It's so expensive right now that over 75% of homes are too pricey for middle-income buyers, the National Association of Realtors said. Tech stocks are in the midst of a "1995 moment."
Persons: I'm Max Adams, Let's, Scott Olson, Goldman Sachs, Wedbush's Dan Ives, They've, , Elon, Tesla, Max Adams, Hallam Bullock Organizations: Getty, National Association of Realtors, Helix Biopharma Corp, MamaMancini's Holdings, Kremlin, Tech, EV, GM, Ford Locations: , Russia, New York, London
Treat Williams, the actor known for his roles in the movies “Hair” and “Deep Rising” and the TV show “Everwood,” has died. Mr. Williams died on Monday after an S.U.V. crashed into his motorcycle in Dorset, Vt., the Vermont State Police said in a statement. The crash occurred in the late afternoon near the Vermont-New York State border. The 35-year-old man whose vehicle hit Mr. Williams was not hospitalized.
Persons: Treat Williams, , Williams, Mr Organizations: Vermont State Police, Vermont -, Honda Locations: Dorset , Vt, Vermont, Vermont - New York State, Albany, N.Y
He's predicting massive sales of the iPhone 15 and growth of its services business. Despite some signs that iPhone sales have slowed, one Apple watcher is predicting iPhone sales to bounce back and push its stock into stratospheric levels. Right now, prices for Apple's state-of-the-art iPhone 14 Pro Max start at $1099, with the slightly smaller pro starting at $999. Services is on pace to approach $100 billion compared to the roughly $50 billion it had in 2020, he writes in his note. But he's not wrong that Services growth is astounding and that it is quickly marching toward $100 billion.
Persons: Dan Ives, haven't, Ives, he's, Max Organizations: Morning, Apple, Wall, Services
Tesla will let Ford and GM access its Supercharger network starting in 2024. Tesla is beginning to show just how much potential its technology and infrastructure really have. Starting in 2024, both automakers will be able to give their customers access to Tesla's expansive charging network with adapters. But this may just be the beginning of Tesla starting to cash in on its proprietary technologies. Even with the addition of Ford, GM, and other car makers," Munster said.
Persons: Tesla, Elon Musk, Dan Ives, Musk, What's, Cathie Wood, Wood, Gene Munster, They've, Munster, It's, Ives Organizations: Ford, GM, EV, Wedbush Securities, CNBC, Ives, Apple, Ark, Deepwater Asset Management, Supercharging Locations: North America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla's having an AWS or Apple Services moment, says Wedbush Securities' Dan IvesDan Ives, Wedbush Securities analyst, joins 'Squawk on the Street' to discuss why Tesla is giving Ives so much 'bullishness', the revenue opportunities from charging stations, and more.
Persons: Dan Ives Dan Ives, Tesla, Ives Organizations: Apple Services, Wedbush Securities
Tesla shares are headed to $300, and the company is looking at big revenue gains from recent deals with Ford and GM. Wedbush on Friday raised its price target and said charging deals could bring in $3 billion of revenue. "In a nutshell, Musk and Tesla are playing chess while other automakers are playing checkers," Wedbush's Dan Ives wrote. That's according to Wedbush, which raised its 12-month price target for Tesla stock to $300 a share, from $215 a share. The Wedbush analyst also predicted rising demand for Tesla vehicles with recent price cuts in the US and China.
Persons: Wedbush, Tesla, Wedbush's Dan Ives, , Dan Ives, Elon, Ives Organizations: Ford, GM, Service, Elon Musk's Locations: China
Fires are burning across the breadth of Canada, blanketing parts of the eastern United States with choking, orange-gray smoke. So much wildfire smoke pushed through the border that in Buffalo, schools canceled outdoor activities. The average global temperatures today are more than 1.1 degrees Celsius (2 degrees Fahrenheit) higher than in the preindustrial era. The trees and grasses of eastern Canada turned to tinder. “We should expect a stunning year of global extremes,” he wrote.
Persons: It’s, El Niño, Justin Trudeau, , Alexandra Paige Fischer, Park Williams, Wiliams, Brendan Rogers, haven’t, La, Jeff Berardelli, El, Ada Monzón Organizations: Northern, University of Michigan, Stanford, University of California, Climate Research, El, Twitter Locations: Canada, United States, Puerto Rico, North America, El, Buffalo, Detroit, Los Angeles, Alberta, Vietnam, China, Siberia, WFLA, Tampa Bay, Fla, WAPA
Bad air can be dangerous, especially if you’re breathing it over a lifetime. In East Asia, years of chronic air pollution is one reason that wearing face masks was common well before the coronavirus pandemic. School children there are used to playing inside on bad air days. In South Korea, would-be presidents have made reducing air pollution part of their campaign platforms. In other cases, urban air has improved because of something that no one saw coming.
Persons: it’s, Paiboon, Rajasekhar Balasubramanian, , Lee Hyung, “ It’s Organizations: New York State, World Health Organization, National University of Singapore, World Bank, Mexico City Locations: Midwest, United States, Cities, Asia, Africa, America, New, Bangkok, South Asia, East Asia, Seoul, South Korea, China, Beijing, Indonesia, Southeast Asia, Mexico, New Delhi
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIs Alphabet or Nvidia the better A.I bet? Wedbush Securities' Dan Ives gives his takeDaniel Ives, managing director and senior equity research analyst at Wedbush Securities, discusses the performance of Alphabet and Nvidia, and weighs in on which is the better bet on AI.
Persons: Dan Ives, Daniel Ives Organizations: Wedbush Securities, Nvidia
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWedbush's Dan Ives makes the bull case for Apple after raising price targetDan Ives, Wedbush analyst, joins 'Closing Bell' to discuss Wedbush raising Apple's price target and outlook for the company.
Persons: Dan Ives Organizations: Apple
Apple announced the Vision Pro, a $3,499 mixed-reality headset that will be released in early 2024. Wall Street is reacting to the device, with one analyst expecting more than 1 million units sold in its first year. The $3,499 Vision Pro headset offers both augmented- and virtual-reality capabilities, hand-based gesture controls, and advanced eye tracking. Those ranges imply that the Vision Pro will generate between $525 million and $5.2 billion in revenue next year. Rating: Neutral — Price Target: $190"The price tag of $3,499 was higher than the $3K broadly speculated.
Persons: , Wedbush, Dan Ives, America's Wasmi Mohan, Price, Samik Chatterjee, Goldman Sachs, We're, Michael Ng Organizations: Apple, Vision, Apple Watch, Service, Bank of America, Wall, Meta, Bank, America's, JPMorgan Locations: Cupertino
Today, Apple is launching itself into a whole new area of gadgets. No one seems to care, with Apple reportedly projecting low sales the first year. Just about 16 years ago — on June 29, 2007 — the Internet was introduced to a new micro-celebrity. The fact remains that behind him on that day 192 months ago, a line curled around the block. Did you even know, before you opened this post, that today, Apple is launching another massive new product?
Persons: Greg Packer, Dima Gavrysh, REMY, Steve Jobs's, Hasan Chowdhury, Dan Ives, Siri Organizations: Apple, Press, LA, Associated, Reuters, Developers, Bloomberg, Wedbush Securities Locations: New York, France, Cupertino
It'll be the company's first major new product since the first Apple Watch in 2014. Apple's goggles are expected be sleekly designed and capable of toggling between totally virtual or augmented options, a blend sometimes known as "mixed reality." Magic LeapDaniel Diez, Magic Leap's chief transformation officer, said there are four major questions Apple's goggles will have to answer: "What can people do with it? The anticipation that Apple's goggles are going to sell for several thousand dollars already has dampened expectations for the product. But those forecasts were obviously made before it's known whether Apple might be releasing a product that alters the landscape.
Persons: It'll, Apple, Steve Jobs, hasn't, Mark Zuckerberg, Tim Cook, Cook, it's, Sergey Brin, Daniel Diez, Magic, Dan Ives, Zuckerberg, Leap's Diez Organizations: Apple, Apple Watch, Meta, Google, Microsoft, Wedbush Securities, CCS Insight Locations: Cupertino , California, Italy, San Francisco
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple hits all-time high and announces new headset. Here's how to play the stockJim Cramer, Erik Woodring of Morgan Stanley, Joe Terranova of Virtus Investment Partners, Gene Munster of Deepwater Asset Management and Dan Ives of Wedbush Securities on what they think about Apple hitting an all-time high and releasing new products at its annual Worldwide Developers Conference.
Persons: Jim Cramer, Erik Woodring, Morgan Stanley, Joe Terranova, Gene Munster, Dan Ives Organizations: Virtus Investment Partners, Deepwater Asset Management, Wedbush Securities, Apple, Developers Conference
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWedbush's Dan Ives on WWDC: Apple is on the 'offensive' with new AR hardwareDan Ives, Wedbush Securities, joins 'Power Lunch' to discuss Apple after the company's WWDC event.
Persons: Dan Ives Organizations: WWDC, Wedbush Securities, Apple
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