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Big Technology Podcast
Tech's Big November Rally, Apple's Path Forward, The State of Tesla — With Dan Ives
Dec 6, 2023
Dan Ives, managing director and senior equity research analyst at Wedbush Securities, discusses the November tech rally, generative AI, Microsoft's AI dominance, the state of Apple and Tesla, Rivian's pickup truck, the Cybertruck's chances, 2024 predictions, and Elon Musk's future at X. Bitcoin madness also makes a comeback in the conversation.
38:18
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Quick takeaways
- The tech sector showed surprising resilience in November, driving significant market gains despite a challenging macro environment.
- The increased adoption of AI across various sectors is fueling optimism for a new tech bull market in 2024, with over 80 identified use cases driving the transformation of the enterprise sector.
Deep dives
Tech stocks experience a November rally
Despite expectations of a market slowdown, the S&P 500 and NASDAQ saw significant gains in November, up 20% and 11% respectively. This rally was predominantly driven by the resilience of the tech sector, which has proven to be surprisingly strong in the face of a challenging macro environment. The increased adoption of AI across various companies, from Nvidia to Microsoft, is fueling optimism for a new tech bull market in 2024. While some choppiness may be expected, it is predicted that tech stocks will see continued growth, with a potential increase of 20% in the next year.
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Discover
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