Dan Ives Expects Mag 7 to ‘Significantly’ Outperform in Second Half
Speakers
Dan Ives
— Managing Director, Wedbush Securities
Summary
Dan Ives argues the June tech sell-off was overdone and created major buying opportunities. He expects the Magnificent Seven to significantly outperform in the second half, driven by an AI arms race and monetization. The upcoming earnings season will validate big tech's growth prospects.
- Dan Ives believes the June tech sell-off was an overreaction and created buying opportunities.
- He expects the Magnificent Seven to significantly outperform in the second half of 2023.
- AI hyperscaler CapEx spending is described as an arms race that companies cannot afford to cut.
- AI monetization is beginning, with Microsoft, Alphabet, Amazon, and Meta positioned to benefit.
- The upcoming earnings season is seen as a huge validation moment for big tech.
- He notes the US is ahead of China in tech for the first time in 30 years.
Ideas
Tech stocks oversold, major buying opportunity.
Tech stocks were way oversold in June, creating major buying opportunities as bearish narratives have overshadowed the future massive growth prospects.
Mag 7 will significantly outperform in H2.
The Magnificent Seven are in the penalty box after the tech rally, but hyperscaler CapEx is an arms race they cannot cut, AI monetization is now coming across Meta, Microsoft, Alphabet and Amazon, and the upcoming earnings season will be a huge validation moment that drives the group to significantly outperform in the second half.
Up Next
This Bloomberg Markets video, published June 30, 2026, features Dan Ives discussing XLK, MAGS. 2 trade ideas extracted by AI with direction and confidence scoring.