Latest news with #Ives
Yahoo
4 hours ago
- Automotive
- Yahoo
Tech bull Dan Ives predicts Tesla's robotaxi launch will catapult the company to a $2 trillion market cap, almost double its current value
Tesla's robotaxi rollout represents the start of CEO Elon Musk's long-held belief that the future of the company will be in autonomous vehicles. Wedbush analyst Dan Ives said the start of the program could almost double Tesla's market cap by the end of 2026. Tesla is on the cusp of a new era in the company's history, according to the bullish tech investor Dan Ives. As Tesla prepares to launch the early stages of its robotaxi offering in Austin, Texas this weekend, the carmaker will make good on its long-held ambitions to enter the ride-hailing business. Ives, whose Wedbush Securities is often bullish on the tech sector, welcomed the robotaxi launch. 'We view this autonomous chapter as one of the most important for Musk and Tesla in its history as a company,' he wrote in an analyst note released Friday. The idea that Tesla's self-driving technology would enable it to have a fleet of robotaxis is central to the investment thesis for the company. Its chief executive, Elon Musk, has long outlined his vision of millions of self-driving Teslas shuttling around paying customers as the next phase of the company's future. Musk has said the company's aim is to allow Tesla owners to make their cars part of its robotaxi fleet when they aren't using their cars. 'So, kind of like Airbnb where you can sort of add or subtract your house or your guest room,' Musk said in January. The best-case scenario of the robotaxi rollout could essentially double Tesla's market cap by the end of 2026, Ives said. He predicted that Tesla's market cap would reach $2 trillion through next year. Tesla's stock has had a poor year in 2025 so far, declining 15.9% year-to-date. The company reported disappointing sales results earlier this year. Tesla shareholders also found themselves having to contend with forces far outside their control such as a souring relationship between the U.S. and China, its two biggest markets, and Musk's involvement in politics and the Trump administration, which attracted significant scrutiny. Tesla did not respond to a request for comment. After the test in Austin, which will start in a geofenced location with about 25 cars, future expansions will be made easier by a favorable regulatory environment. 'We fully expect under a [President Donald] Trump White House these key initiatives will now get fast tracked as the federal regulatory spiderweb that Musk & Co. have encountered over the past few years around autonomous clears significantly,' Ives said. The excitement of Tesla's most bullish investors, however, put off some others. Earlier this month, investment firm Baird downgraded Tesla's stock from 'buy' to 'neutral' because it saw the rate at which the robotaxi program would expand as 'a bit too optimistic.' Baird also highlighted the public tiff between Musk and Trump as raising uncertainty surrounding Tesla's future. Argus Research cited the falling-out as the main reason for its own downgrade, which also came this month. Analysts at Argus feared Tesla's stock was trading on 'non-fundamental events,' meaning investors were buying and selling the stock for reasons that weren't related to its financials. 'Looking ahead, we are concerned that the war of words between President Trump and Elon Musk, along with the expiration of EV credits, could further weaken demand for new Teslas,' wrote Argus analyst Bill Selesky. Ives, however, saw past the spat. 'The BFF/frenemy situation with Musk and Trump has created a soap opera on this front but ultimately Trump wants the US to stay ahead of China in this AI arms race and autonomous is a key factor in who wins AI with Tesla playing a major role on robotaxis,' he said. 'We expect over the coming months an easing of the federal framework for autonomous with more power going to the federal regulators with states having less authority on the autonomous rules.' Tesla's robotaxi would not be the first autonomous vehicle approved for use in the U.S. Alphabet-owned Waymo is currently available in San Francisco, Phoenix, Los Angeles, and Austin. This week, Waymo also announced it had applied for a permit to conduct a test for its autonomous vehicles in New York. Tech giant Amazon also has an autonomous-vehicle initiative called Zoox that is slated to launch in Las Vegas later this year. This story was originally featured on
Miami Herald
4 hours ago
- Automotive
- Miami Herald
Veteran Tesla analyst makes boldest robotaxi call yet
The closer we get to Tesla's (TSLA) robotaxi debut on Sunday, the hotter things get. Though it's been patchy, Tesla bulls would argue we're finally getting close to what could be a watershed moment for the business. Don't miss the move: Subscribe to TheStreet's free daily newsletter Analysts have been talking up Tesla's self-driving game for a while. Few have built a serious reputation on bold, on-point calls. Now, one veteran bull just upped the ante on the robotaxi event, calling this the potential start of Tesla's "golden era of autonomous." Truth be told, Tesla's robotaxi rollout turned out bumpier than expected. Related: Tesla robotaxi launch hits major speed bump After Tesla's maverick CEO, Elon Musk, teased an Austin debut in May, things have proven rather rocky. Just yesterday, a band of seven Texas lawmakers called on the EV giant to pump the brakes on its trials until September's tougher AV rules to kick in. Then there's the safety concern, which adds another layer to the dynamic. In mid-June, a Cybertruck prototype drifted into oncoming traffic while on FSD. Days later, a Tesla Model 3 stalled on train tracks, getting clipped in the process. These hurdles and fresh incidents suggest the vision-only autonomy might still be brittle. Meanwhile, Tesla's robotaxi competition in the likes of Waymo and Cruise continues chugging along in geofenced zones. These companies have taken a more cautious route with safety drivers and slow expansions. Tesla, on the other hand, appears to be going full throttle, relying heavily on its massive owner fleet and Musk's no-brakes style. For now, though, hiccups have weighed down Tesla's stock price, which has settled back into the low $320s. More Tesla Stock News: Tesla robotaxi launch hits major speed bumpMusk's AI chatbot weighs in on Tesla stock and RobotaxiSpaceX faces a surprising rival Tesla is already battling Nevertheless, Tesla has repeatedly proved the naysayers wrong, and it's operating in what could become a multi-billion-dollar market. Grand View Research estimates the global robotaxi market at $1.95 billion last year, potentially soaring to $43.76 billion by 2030 (a staggering 73.5% CAGR from 2025). In an X post today, the veteran tech analyst deemed Sunday's robotaxi rollout in Austin "the golden era of autonomous" for Tesla. Related: Journalists are 'killing people' by turning them against autonomous cars, Musk said He feels this chapter could be the biggest in Tesla's rich history, tipping its AI roadmap as a potential $1 trillion valuation boost over the coming years. To put things in perspective, that's double the stock's current worth at around $1.1 trillion. Ives sees the event as a high-stakes test of autonomy at scale. If the technology can effectively live up to the hype, investors could be looking at a paradigm shift in both ride-hailing and Tesla's market positioning. Even though the initial fleet may seem relatively modest (20 Model Ys), Ives believes a quick ramp to some 25 U.S. cities over the next year is possible. Moreover, he lauded Tesla's unmatched scale, including its massive fleet, global footprint, and deep data trove. Also, beyond operating its network, Ives feels Tesla could license its Full Self-Driving stack to traditional automotive players, opening up a huge, long-term revenue stream. Sure, there are likely to be some speed bumps. These include tricky regs, politics, and a race towards full autonomy. However, Ives still sees Tesla as having the competitive edge due to its software muscle, hardware control, and deep pockets. It's important to note that Dan Ives has been a Tesla bull for years, even through the rough patches. He's voiced his support for the stock, stating that his "longstanding bull view of Tesla remains". Wedbush maintains an 'Outperform' rating on Tesla stock with a lofty price target of $500. This target represents a whopping 55% upside to the stock's current price, which is hovering near the $321.3 mark. Related: Circle stock goes parabolic after Capitol Hill surprise The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
CNBC
11 hours ago
- Automotive
- CNBC
Tesla could reach $2 trillion in market cap by end of 2026 as autonomous era begins in Austin, says Dan Ives
Wedbush's Dan Ives believes that Tesla "remains the most undervalued AI play in the market today" and could roughly double its value by the end of next year. In a Friday note, the analyst reiterated his outperform rating and $500 price target on the electric vehicle maker. Shares of Tesla closed at $322.05 on Wednesday, meaning that Ives' forecast signals upside of more than 55%. Tesla has struggled this year, plunging more than 20%. TSLA YTD mountain TSLA YTD chart Still, Ives remains bullish on the stock, noting that the "golden era of autonomous for Tesla" officially begins Sunday in Austin with the launch of roughly 20 Model Y robotaxis. He said the rise of autonomous vehicles could drive Tesla's market cap to $2 trillion by the end of 2026 from roughly $1 trillion as of Wednesday's close. It's expected that Tesla will steadily ramp up its robotaxi service to roughly 25 U.S. cities in the next year. Ives added that Tesla's full-scale production of Cybercabs, beginning next year, will be its next key step in monetizing the autonomous vision of the future. "Taking a step back we view this autonomous chapter as one of the most important for Musk and Tesla in its history as a company ... as we believe the AI future at Tesla is worth $1 trillion to the valuation alone over the next few years," Ives wrote. "There will be many setbacks ... but given its unmatched scale and scope globally we believe Tesla has the opportunity to own the autonomous market and down the road license its technology to other auto players both in the U.S. and around the globe." The analyst added that he expects President Donald Trump to help clear the federal regulatory spiderwebs that might have troubled Tesla CEO Elon Musk's autonomous ambitions in the past. "The BFF/frenemy situation with Musk and Trump has created a soap opera on this front but ultimately Trump wants the U.S. to stay ahead of China in this AI Arms Race and autonomous is a key factor in who wins AI ... with Tesla playing a major role on robotaxis," Ives said. "We expect over the coming months an easing of the federal framework for autonomous with more power going to the federal regulators with states having less authority on the autonomous rules/approvals/framework." Tesla shares rose more than 1% in the premarket. Analysts are split on the stock. Of the 55 who cover it, 25 rate it a buy or strong buy, according to LSEG. Another 19 have a hold rating on Tesla, while 11 assigned underperform or sell ratings.
CNBC
2 days ago
- Business
- CNBC
This artificial intelligence subcategory is undergoing a 'golden age,' says long-time tech analyst Dan Ives
Wedbush Securities' Dan Ives, who launched an artificial intelligence exchange-traded fund this month, sees software as the subcategory to watch within the space. According to Ives, it's experiencing a "golden age." "Software is going to be driving … a lot of the use cases," the firm's global head of technology research told CNBC's "ETF Edge" this week. "But it's trying to understand: Who within software? Just because they say 'AI' on a conference call doesn't make them an AI player." Ives runs the Dan Ives Wedbush AI Revolution ETF, which trades under the ticker IVES. Ives' goal is to focus on stocks that are transforming the AI landscape. "I believe the market is still massively underestimating what the growth is going to look like for the AI revolution in tech," he said. "For us, it's not just Mag Seven. It's not just those first four or five names... It's trying to identify names that maybe today thematically you don't even consider an AI name." He forecasts Oracle will be "the epicenter of the AI theme over the next six, nine, 12 months in terms of software." As of Tuesday's market close, Oracle shares are up almost 62% over the past two months. It's IVES' fourth-largest holding, according to the firm's website. IVES' other software holdings include Palantir, IBM and Salesforce. They're also winners over the past two months — with Palantir shares soaring more than 47%. Altogether, IVES' holdings cover 30 companies that span multiple industries. They include hyperscalers, cybersecurity, consumer platforms and robotics. According to Ives, the list was compiled from his deep dives into major AI players. "Around the world investors always say, 'How do you play AI? How do you play the theme?'" Ives said. "All of our research can put it in a way investors could play this regardless of where they are and who they are." The fund's top three holdings overall are Microsoft, Nvidia and Broadcom, but it also includes smaller tech names like SoundHound and Innodata. IVES is up almost 3% since its June 4 launch. In an email to CNBC, Ives wrote that the ETF has $183 million in assets under management as of Tuesday's market close. Ives plans to reevaluate the AI 30 every quarter. "There could be a name today that's not on there," he said. "Six months from now, if we find that's a name that's become more and more of an AI play, then we'll put them on there." Ives contends the tech trade is still worth the investment – even for investors who have missed out on the run over the past few years. "If you focus just on valuation, you miss every transformational tech stock of the last 20 years," Ives said.
Yahoo
4 days ago
- Business
- Yahoo
Wedbush Reiterates $270 Target on Apple (AAPL), Citing Hopes for AI Execution
Apple Inc. (NASDAQ:AAPL) is one of the 10 best tech stocks to buy according to billionaires right now. On June 10, following Apple's keynote at the 2025 Worldwide Developers Conference (WWDC), Wedbush analyst Daniel Ives reaffirmed his Outperform rating on the stock, along with a $270 price target. In his post-event note, Ives noted that while the presentation outlined Apple's vision for the developer ecosystem, it offered limited new detail on the company's artificial intelligence initiatives, an area where Apple appears to be moving cautiously, likely in response to last year's strategic missteps. A wide view of an Apple store, showing the range of products the company offers. Notably, at the WWDC 2024, the company had given an ambitious roadmap to its Apple Intelligence and a transformation for smart AI assistant, Siri. However, the execution over these plans has lagged and the company's AI strategy has been under scrutiny. Fast forwarding to now, Ives believes Apple's measured approach is understandable, but 2025 could be a critical year for the company to begin monetizing its AI efforts more visibly. He suggested that if internal development does not accelerate, the company may need to explore larger-scale AI acquisitions to strengthen its positioning in the space. Although Apple may be seen as entering the AI race later than peers, Ives acknowledged that the company has begun laying the groundwork for a longer-term strategy. In his view, WWDC marked the start of Apple's multi-year AI roadmap, with initial steps that could shape its direction through 2026 and beyond. Apple Inc. (NASDAQ:AAPL) designs, manufactures, and markets innovative products, including the iPhone, iPad, Mac computers, Apple Watch, and Apple TV. The company also offers a range of software and services, such as the iOS and macOS operating systems, iCloud, advertising, payment services, Apple Music, and the App Store. While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
