The tech sell-off is a buying opportunity, says Wedbush's Dan Ives

About this Video

• Video Title: The tech sell-off is a buying opportunity, says Wedbush's Dan Ives
• Channel: CNBC Television
• Speakers: Dan Ives (Wedbush Securities), CNBC Hosts (names not specified in transcript)
• Duration: 00:05:50

Introduction

This CNBC Fast Money segment discusses the recent pullback in Palantir shares. Wedbush Securities' Dan Ives offers his perspective, arguing that the tech sell-off presents a buying opportunity and predicting continued growth in the tech sector for the next 2-3 years.

Key Takeaways

• Palantir's recent pullback is viewed by Dan Ives as a healthy correction, not a cause for concern. He emphasizes the stock's strong performance this year despite the recent decline.
• Ives maintains a bullish outlook on Palantir and the broader tech sector, predicting a 2-3 year bull cycle. He cites Palantir's role in the AI revolution and its potential for substantial growth as key reasons for his optimism.
• Ives projects a $1 trillion market cap for Palantir in the future, requiring significant revenue growth. He anticipates revenue reaching $12-20 billion in the next few years, supported by strong free cash flow margins.
• Palantir's significant government revenue (55%) is seen as a tailwind, but the focus is shifting towards the commercial side for long-term valuation. Ives believes the company's AI technology and enterprise applications will drive substantial commercial growth.
• Despite acknowledging Palantir's high-risk profile, Ives considers the current pullback a buying opportunity. He emphasizes the strong demand for Palantir's services and the potential for significant future growth.