Dan Ives Predicts Nasdaq 30,000: AI Demand 'Overwhelms Supply'

Wedbush Securities analyst Dan Ives predicts the Nasdaq will climb to 30,000 over the next year, driven by AI demand that 'continues to overwhelm supply.'

In an interview with CNBC, Ives said strong tech earnings have validated Wall Street's bullish outlook on AI, and the infrastructure buildout remains in early stages.

The rally has lifted semiconductors, software, cybersecurity, and power stocks. The PHLX Semiconductor Index surged 38% in the past month, with Intel, Nvidia, Apple, and Alphabet posting double-digit gains.

Ives called the current cycle a 'memory super cycle,' citing strong demand for SK Hynix and urging investors not to limit AI exposure to one subsector.

Yet concerns over valuations are mounting. Michael Burry, who predicted the 2008 crash, warns current market behavior mirrors the final months of the dot-com bubble. He says stocks are rising more on AI speculation than economic data.

Paul Tudor Jones offers a tempered view: the AI-fueled bull market likely has another year or two, but corrections could be severe, similar to past tech cycles like the PC and commercial internet booms.