Latest news with #Wedbush
Yahoo
an hour ago
- Business
- Yahoo
Wedbush's Ives raises stock price target on this 'AI winner'
-- Wedbush analyst Dan Ives raised his price target on IBM (NYSE:IBM) shares to $325 from $300, a move driven by increased confidence in the company's position as a major beneficiary of the AI revolution. IBM remains one of Wedbush's top software picks and is featured on its 'IVES AI 30' list, which focuses on "AI winners." 'We believe IBM is still under owned and in the early stages of a renaissance of growth with AI the key driver,' Ives said in a Friday report. Despite a strong run so far in 2025, Ives sees further upside tied to the company's expanding AI and cloud initiatives, reiterating an Outperform rating on the stock. The analyst pointed to IBM's $6 billion-plus generative AI book of business as a foundational strength. The company now supports over 70 AI-infused workflows across areas such as sales, finance, and marketing. Growth is also underpinned by demand for Red Hat and HashiCorp (NASDAQ:HCP) products. Wedbush noted that IBM's hybrid cloud and AI architecture enables continuous innovation, with three-quarters of AI expected to run on containers by 2027. Furthermore, Wedbush's checks suggest continued momentum across IBM's AI agents and WatsonX platform. The broker said customers are increasingly turning to IBM to build and scale AI use cases, while overall buying behavior remains stable. 'The company continues to note that it has not seen any changes in customer buying behavior across its product portfolio,' the analysts wrote. Looking ahead, IBM is also investing in quantum computing. Its roadmap includes the Quantum Starling system and the upcoming Quantum Nighthawk chip, both aimed at enhancing fault tolerance and connectivity. While still early, Ives sees IBM's efforts as part of a broader strategy to lead in a multi-billion-dollar quantum computing market. 'We believe that IBM is well-positioned to capitalize on the current demand shift for hybrid and AI applications with more enterprises looking to implement AI for productivity gains and drive long-term profitable growth,' the note concluded. Related articles Wedbush's Ives raises stock price target on this 'AI winner' Chip equipment stocks fall after US plans to revoke China waivers CubeSmart upgraded, Public Storage cut: BMO shifts preference in storage sector 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
Yahoo
4 hours ago
- Automotive
- Yahoo
Why Wedbush Says Tesla's Market Cap Could Be on Road to $2T After This Weekend
Tesla could be on the path to doubling its market cap by the end of next year, according to Wedbush analysts led by Dan Ives. The EV maker is scheduled to launch its robotaxi service this weekend, with 10 to 20 vehicles operating autonomously on the streets of Austin, Texas. The stock has recovered most of the ground it lost as CEO Elon Musk and President Donald Trump traded insults online earlier this (TSLA) market capitalization, currently hovering just over $1 trillion, could start down the road to doubling in value by the end of 2026 if its robotaxi launch goes well this weekend, Wedbush analysts led by Dan Ives wrote Friday. Keeping their "outperform" rating and Street-high $500 price target, Ives and his colleagues wrote Friday that they "believe the march to a $2 trillion valuation for TSLA over the next 12 to 18 months has now begun in our view with [Full Self-Driving] and autonomous penetration of Tesla's installed base and the acceleration of Cybercab in the US representing the golden goose." Tesla CEO Elon Musk said last week that the company was tentatively targeting a June 22 launch for its robotaxi program in Austin, Texas. The analysts said invites have been sent out "giving selected Tesla users permission to use the Model Y Robotaxi service starting on Sunday." Musk has said the plan is to start with 10 to 20 Model Y vehicles carrying paying passengers fully autonomously around a specific, "geo-fenced" area of Austin. Tesla plans to eventually expand to more vehicles in several other cities, and allow Tesla owners to add their vehicle to an Uber (UBER)-like fleet, and start producing the Cybercab with no steering wheel or pedals next year. Also Friday, Tesla announced on Chinese social media service Weibo that it has signed an agreement to build its first grid-scale battery power plant in China. Bullish analysts have been eager to shift focus for Tesla stock to the robotaxi launch and away from Musk's public split with President Donald Trump earlier this month, while more bearish analysts have said the feud could complicate the company's regulatory path. Earlier this week, a group of Texas lawmakers sent Tesla a letter asking the EV maker to pause its robotaxi launch until a new version of its autonomous vehicle regulations go into effect at the start of September. Tesla shares rose less than 1% in recent trading to about $324. They are down about 20% on the year, but have recovered most of the ground lost as Musk and Trump traded online barbs earlier this month. Read the original article on Investopedia 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
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
- Business
- Miami Herald
Analysts reboot Micron Technology stock price target ahead of earnings
An elephant might never forget but Micron Technology (MU) has more storage space. The Boise, Idaho, company makes memory and storage chips for data centers, computers and smartphones, and its client list includes such tech-sector superstars as AI-chip chieftain Nvidia (NVDA) , Mac and iPhone maker Apple (AAPL) , Facebook parent Meta Platforms (META) and software kingpin Microsoft (MSFT) . Don't miss the move: Subscribe to TheStreet's free daily newsletter Make no mistake, there's money in memories, and we're not just talking about those singing cats on Broadway. "After the historic downturn of 2022–2023, the memory industry has entered a phase of strong recovery. In 2024, memory revenue reached a record $170 billion," according to market researcher Yole Group. "This rebound was fueled by AI-training requirements in data centers, with [high-bandwidth memory) playing a pivotal role due to its premium pricing and performance advantages," the firm added. HBM continues to outperform the broader DRAM chip segment, Yole Group said. This year HBM revenue is set to nearly double to around $34 billion. Micron is a key player in the HBM market, offering solutions like HBM3E and HBM4 designed for high-performance computing and AI company recently joined the Trump administration to unveil plans to expand its U.S. investments to about $150 billion in domestic memory manufacturing and $50 billion in research and development, creating an estimated 90,000 direct and indirect jobs. More Tech Stocks: Amazon tries to make AI great again (or maybe for the first time)Veteran portfolio manager raises eyebrows with latest Meta Platforms moveGoogle plans major AI shift after Meta's surprising $14 billion move "Micron's U.S. memory manufacturing and R&D plans underscore our commitment to driving innovation and strengthening the domestic semiconductor industry," Chairman, President and CEO Sanjay Mehrotra said in a statement. The company's shares are up nearly up nearly 45% this year and off 16% from this time in 2024. Investment firms have been issuing research reports for Micron Technology ahead of its fiscal-third-quarter earnings report, scheduled for June 25. Wedbush boosted its price target on Micron to $150 from $130 while maintaining an outperform rating. The firm said memory-pricing trends turned more positive in the second quarter. And while Wedbush said it doesn't see as significant an inflection in Q3 as it had been expecting back in March, the firm said pricing for both DRAM and NAND, which are two types of semiconductor memory, "still will lift over the next couple of quarters." Better fundamentals are driven by stronger enterprise/server demand, which started around April and looks to hold through the rest of the year, Wedbush said. Demand for both AI and standard workloads appears better than might have been initially anticipated, it said. "Moreover, we view growing [high-bandwidth memory] requirements as not just positive for MU's numbers but also ultimately positive for industry dynamics as [capital spending] and clean-room space are reallocated to support HBM growth," Wedbush said. Related: Analysts rework Micron stock price targets after earnings This will limit the likelihood of too much supply of NAND/DRAM, and it increases the probability that production of more standard parts will trail demand. That, the firm said, would create a more positive pricing/margin cycle vs. what is embedded in its expectations, the firm said. Morgan Stanley maintained an equal-weight rating and $98 price target on Micron, given how much the stock has rallied already, according to The Fly. But the investment firm is "tactically bullish," given that AI spending is materially accelerating as Micron grows its participation. The investment firm, which notes that its estimates remain 20% above consensus for August-quarter earnings, also highlights Sandisk, which it likes better long term and on which it has an overweight rating. Based in Milpitas, Calif., Sandisk designs and produces flash-memory products, including memory cards, USB flash drives and solid-state drives. Consensus numbers have started to come up for Micron over the past few weeks, but in addition to Morgan Stanley being about 20% above consensus for August earnings per share, the firm is also 14% above for November after it raised estimates six weeks ago. Related: Fund-management veteran skips emotion in investment strategy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
6 hours ago
- Automotive
- Yahoo
Tesla Robotaxi Push Could Be a $1 Trillion Game-Changer, Wedbush Says
June 20 - Tesla (NASDAQ:TSLA) is set to launch its robotaxi operations in Austin this Sunday, with about 20 Model Y vehicles operating in a designated area, Wedbush mentioned in a Friday note. Warning! GuruFocus has detected 2 Warning Sign with AMZN. The firm called the move a key milestone that could define Tesla's next phase, estimating the autonomous unit alone could eventually add $1 trillion to the electric carmaker's valuation. Wedbush maintained its Outperform rating and $500 price target, citing Tesla's global reach and progress in artificial intelligence and driverless technology. The firm expects Tesla to scale the service to roughly 25 U.S. cities within a year and sees potential policy support ahead. Analysts said a Trump presidency could accelerate regulatory clearance for full self-driving systems. Tesla plans to begin production of its dedicated robotaxi model, the Cybercab, sometime next year, the note added. Wedbush believes Tesla's roadmap on autonomy and robotics will unfold gradually, saying, Rome wasn't built in a day. In a bull case, the firm sees Tesla reaching a $2 trillion market cap by the end of 2026. This article first appeared on GuruFocus.
