Dan Ives, Wedbush Securities' global head of technology research, known on Wall Street as a "master of tech-stock analysis" and a "Tesla bull," said Korea's tech corporations such as Samsung Electronics and SK hynix will play an increasingly large role in the global artificial intelligence (AI) revolution. However, he noted that they need to improve conservative marketing strategies and cultivate lacking entrepreneurship.
On the 27th, Ives gave a lecture on the theme of "outlook for technology and artificial intelligence (AI)" at the "Hana x Wedbush Global Insight: Next Wave" seminar held at Hana Securities' headquarters in Yeouido, Seoul.
He assessed the current popularity of global tech stocks at a top level of 10 on a 0–10 scale. But he analyzed that share prices are only at a level of 7. Ives said, "The current tech-stock boom will last another 2–3 years," adding, "In this trend, I think the Nasdaq index can break through 30,000 points."
Ives predicted that stocks in his "AI 30 research report," including Tesla and Nvidia among the "Magnificent 7" (M7), as well as Palantir, MongoDB, Alibaba, Baidu, and Palo Alto, will continue the AI-led bull market.
The corporations included in Ives' AI 30 research report are operated as constituent stocks of the "Dan Ives Wedbush AI Revolution" exchange-traded fund (ETF), which Wedbush Fund launched in June. As of the 24th, the ETF's net worth stood at $943.63 million (about 1.3525 trillion won).
Ives said, "Corporations such as Palo Alto will grow in size amid the expansion of AI, and second-, third-, and fourth-wave beneficiaries will emerge in succession," adding, "Whether the United States can ensure adequate power supply is a risk, but I am positive."
He also noted that large semiconductor stocks such as Samsung Electronics and SK hynix are driving Korea's stock market gains. He said, "In the global view amid the AI revolution, Korean corporations are being rediscovered," adding, "With government support in place, they can play an increasingly large role in global markets."
However, he pointed out that there are areas where domestic corporations need to improve to compete with overseas corporations. Ives said, "U.S. corporations are very proactive with investors, but Korean corporations are conservative in marketing, so there is a limit in becoming well known."
He added, "Korea should prevent technology and talent nurtured here from flowing overseas and actively foster entrepreneurship."