Apple seems like the clear leader among its tech giant peers, Wedbush’s Dan Ives thinks there will soon be a second company around to breathe that rarified $3 trillion air: Microsoft.
“We estimate for every $100 of cloud Azure spend with there is an incremental $35-$40 of AI spend that now is on the table which changes the game,” Ives tweeted. “We believe on a sum-of-the-parts valuation that Microsoft should join Apple in the exclusive $3 trillion club by early 2024.”
Ives, predicting last week that Apple will be worth $4 trillion by 2025, believes that “the new bull market in tech has begun. We see tech stocks up another 15% second half of the year.”