Dan Ives Sees Magnificent Seven Outperforming in H2 as $5.5 Trillion AI Spend Builds
Updated
Updated · Stocktwits · Jun 30
Dan Ives Sees Magnificent Seven Outperforming in H2 as $5.5 Trillion AI Spend Builds
3 articles · Updated · Stocktwits · Jun 30
Summary
Wedbush analyst Dan Ives said upcoming earnings will be a “huge validation moment” for Big Tech and predicted the Magnificent Seven will significantly outperform in the second half.
AI spending by Meta, Microsoft, Alphabet and Amazon is tied to long-term business plans, he said, arguing hyperscalers are building the base for future monetization rather than overspending.
JPMorgan this month raised its 2030 global AI-related capital spending forecast to $5.5 trillion from $5.1 trillion and lifted its AI debt financing estimate to $4.1 trillion.
The bullish call comes after the Roundhill Magnificent Seven ETF fell about 9% over the past month and more than 2% this year, lagging the QQQ’s 19% gain and the S&P 500’s 9% rise.