Dan Ives Calls $3 Trillion Tech Selloff a Buy Signal
Wedbush's Dan Ives says Big Tech is 'way oversold' after nearly $3 trillion in market cap vanished amid AI spending fears.
Wedbush Global Head of Technology Research Dan Ives walked onto CNBC this month with a contrarian call: the brutal tech selloff gripping Wall Street in June is not a warning sign — it's a buying opportunity. Nearly $3 trillion in combined market capitalization has been erased from major tech names as investors grow skeptical about the returns on massive artificial intelligence capital expenditures, but Ives argues the market is reading the moment entirely wrong.
Ives singled out Microsoft as among the names he considers deeply undervalued at current levels, characterizing the broader group of battered AI-linked stocks as "way oversold." His thesis centers on the idea that AI capex skepticism has caused a sentiment-driven overreaction, disconnecting share prices from the underlying long-term growth trajectory that major technology platforms are still very much on track to deliver.
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The backdrop for his call is significant. A wave of anxiety has swept institutional and retail investors alike, questioning whether the hundreds of billions of dollars being poured into AI infrastructure will ever produce commensurate revenue and profit. That uncertainty has translated into sustained selling pressure across the sector throughout June, punishing even the most cash-generative names in the index.
Ives represents a school of thought that treats the current dislocation as historically consistent with past technology cycles, where fear-driven drawdowns preceded substantial recoveries once fundamentals reasserted themselves. For investors willing to look past near-term volatility, he frames the selloff as a rare entry point into dominant technology franchises at discounted prices rather than a fundamental rethinking of AI's economic potential.
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