Investors need to adjust to owning more software, says top tech analyst Dan Ives

Watch on YouTube ↗  |  September 10, 2026 at 23:49  |  4:42  |  CNBC
Speakers
Dan Ives — Managing Director, Wedbush Securities

Summary

Dan Ives of Yorkville Ives discusses Oracle's earnings and the broader software and tech trade. He likes Oracle but says it needs more quarters, expects software to outperform as investors adjust to owning more, and favors NVIDIA as the best AI perch. He also sees semiconductor demand spillover to Intel and AMD and likes cybersecurity as an AI derivative, while cautioning Adobe still has more to prove.

  • Dan Ives likes Oracle's backlog and data center progress but says it needs more quarters.
  • Ives says investors are under-owned in software and expects software to outperform.
  • He views NVIDIA as the best-positioned AI name.
  • He sees AI chip demand/supply spillover benefiting Intel and AMD.
  • He flags cybersecurity as a second/third/fourth derivative AI play.
  • He cautions Adobe has more to prove before software is an all-clear.
Ideas
Dan Ives Managing Director, Wedbush Securities 0:25
Oracle backlog conversion is underappreciated.
Dan likes Oracle because the market is overly skeptical about its RPO and backlog converting into revenue, and its data center buildout progress is a big step in the right direction; it remains a penalty-box stock with better days ahead as the SaaS apocalypse fades, though it needs a few more quarters to prove itself.
ORCL MED
Dan Ives Managing Director, Wedbush Securities 1:12
Software set to outperform rest of year.
Institutional investors are under-positioned in software after it became a do-not-enter zone, and with earnings data points lining up, the software trade is no longer an all-clear but is set to outperform for the rest of the year; he acknowledges Adobe still has more to prove.
IGV HIGH
Dan Ives Managing Director, Wedbush Securities 1:29
Adobe still has more to prove.
Adobe is a good example of why software is not an all-clear; it still has a lot more wood to chop and will have to prove itself more.
ADBE MED
Dan Ives Managing Director, Wedbush Securities 2:36
NVIDIA is best AI perch.
NVIDIA is the godfather of AI with the best perch; the AI trade starts and ends with it, and demand/supply dynamics are strong, creating second-, third-, and fourth-derivative opportunities.
NVDA HIGH
Dan Ives Managing Director, Wedbush Securities 2:50
AI derivatives boost cybersecurity.
The second-, third-, and fourth-derivatives of AI will play out across cybersecurity, with CrowdStrike and Palo Alto as examples of beneficiaries.
CIBR MED
Dan Ives Managing Director, Wedbush Securities 3:40
Chip demand spillover benefits semis.
Chip demand/supply based on Asia is 13-to-1, and the spillover effect from AI will benefit not just NVIDIA but also Intel and AMD; semis can outperform alongside software.
SMH INTC AMD MED
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This CNBC video, published September 10, 2026, features Dan Ives discussing ORCL, IGV, ADBE, NVDA, CIBR, SMH, INTC, AMD. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Dan Ives  · Tickers: ORCL, IGV, ADBE, NVDA, CIBR, SMH, INTC, AMD