Pressure on US stocks (^DJI,^GSPC, ^IXIC) persists as investors weigh the impact of US President Donald Trump’s tariffs. Wedbush Securities managing director and global head of technology research Dan Ives joins Seana Smith on Morning Brief to take a closer look at the tech sector where Nvidia (NVDA) and Tesla (TSLA) drag the “Magnificent Seven” lower.
Ives tells Yahoo Finance that the sell-off is “a growth scare,” explaining, “The concern is what does [Trump’s tariffs] mean for the AI trade chips export controls.”
“It’s added uncertainty. But in my opinion, it doesn’t change the demand cycle. In other words, this is not going to end the tech bull market. It’s a scare, but I believe it’s more opportunities than the time to head for the hills,” he adds.
Despite recent losses, Ives says he continues to think the Mag Seven presents an opportunity for investors. “I get that there’s a lot of uncertainty, but just as we navigated tariffs in [2018] and [2019,] just like we’ve navigated other macro issues, [our view is] it is the time to own the winners.” He highlights Nvidia, Palantir (PLTR), Apple (AAPL), Microsoft (MSFT), and Alphabet (GOOG, GOOGL) specifically.
The analyst says the current sell-off is due to “70% macro” concerns as “the worry is that you just don’t know the rules of the game” as Trump’s tariff policy evolves.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here: https://finance.yahoo.com/videos/series/morning-brief/
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