Tech stocks will likely carry on racking up gains thanks to AI, according to Wedbush.
Expect tech stocks' stellar run to continue thanks to a looming surge in spending on AI, according to Wedbush.'s second-quarter earnings signaled there will be a massive rise in investment in the sector over the next 12 to 18 months that'll ease investors' worries about the Federal Reserve's interest-rate hikes, analyst Dan Ives said in a research note seen by Insider.
Ives predicted the slowdown this month will prove to be a temporary blip, rather than a longer-term trend, and pointed to profit guidance numbers published last week by Nvidia as evidence of an upcoming AI spending spree.
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