저자: DanIves · 외국인
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Dan Ives는 트럼프 행정부 하 반독점 규제(FTC) 완화를 근거로 빅테크 상승 여력을 주장하며 2025~2026년까지 기술주 강세를 전망. 테슬라는 자율주행 가치로 주가 두 배 가능성과 장기 2조달러 시가총액을 제시. Jordan Klein(Mizuho)은 반도체가 경기선행 업종인 만큼 단기 실적 가시성이 부족해 조정 가능성을 언급하면서도, 바닥 확인 후 반등 가능성을 봄. 월마트의 DEI 축소 뉴스는 짧게 다룸.
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come on over immediately dodu it's great to have you on set Dan IES Dan head of Technology research at Bush security there's always a lot of information in the tech sector for us to discuss but I want to start with the Microsoft portion of this because we always talk about whether the market Feels Like It's 1999 on the verge of 2000 and now we're talking about Microsoft being up for regulatory review which feels like 992 200,000 if KH were stay though things would be different I believe that the ftc's days are numbered and that you eventually get them more we'll call it a business-friendly kind of chair of the FTC in there and we just think Bark's worse than a bite when it comes to Microsoft Microsoft went through that battle in the '90s versus you know godge and US Government ultimately wanted look you're definitely seeing the strong get stronger in terms of big tech and as much as this is really going to be a UFC battle that continues to really play out between big Tech but I just think when it's all said and done that the noise is going to be more than the reality not just for Microsoft but I think even when it comes to Google and others how much is going to hinge though on the Trump Administration the picks for Dodge antitrust and FDC because there are a number of names floated for each of those positions and not all of them are I would say raw or let Tech go wild some of them are much more focused on antitrust and as I'll call it maybe potentially a similar approach to what we've seen seen in the last couple of years yeah think on DJ you definitely get someone probably in between I mean look Vance is obviously antic so you're going to definitely have someone that's that's a little on the aggressive side toward Tech but I think the big issue is on FTC because con for big Tech it has been a nightmare in terms of KH the FTC her being gone which we believe is ultimately will be that the next step when it comes to January that's bullish for Tech I think look a big reason when Trump came in when you think about k out the FTC that's bullish or big Tech I think less regulations and then who's at the table right next to trumpet musk and I think that's going to also play a big role unofficially in terms of some of these picks and where this all goes but I continue to think in terms of this a revolution it is 10 p.m.
at that party that goes to 4:00 a.m. and I don't see any of these appointments that's changing that party or that party closes early I think we have a tech Market that goes well into 20 25 2026 and I think a lot of this sort of noise that we see here more opportunities to own these names rather than time to get nervous to you by Tesla here then given the rally we've seen the torrid rally we've seen this month I think get the popcorn out because I believe Tesla is a stock that could ultimately double from here over the next 18 month it's been obviously parabolic move but as mean you talk about autonomous itself we think is worth a trillion dollars so when you think today ivi tssa is the most undervalued I name in the market it is not ridiculous it might must be conservative to think could this be a $5 $600 stock as the autonomous ultimately plays out I think the margin story is definitely stabilized here and I think investors look the haters continue to hate they hate it at $50 they'll hate it here but I think we sit here and this will be sort of a golden star you know in terms of when you look at the market in 2025 in terms of what we see for Tesla I believe 2 trillion on the horizon so joining me now is Jordan Klein managing director and Tech media and Telecom desk Analyst at mizo Securities to talk a little bit about the Divergence that we're seeing there Jordan thank you for having me what gives what do you make of it it's a great question and I believe that because semiconductors are the most cyclical and anticipatory sector of Technology they will always be trading at current prices excuse me but given the uncertainty in the global macro backdrop especially with Trump's export controls tariffs and demand I believe that there is a lot of uncertainty if you take away Nvidia and the a trade for example they are simply not reporting beats and raises that investors want to see and on the other hand all this money into the end of the year is chasing Alpha and that's coming from software in areas like fintech this has been one of those kind of conventional wisdom points for decades at this at this point which is that as you point out the semiconduct conductors may be a leading indicator for the rest of Technology because they are that forward-looking CA cyclical type sector out there if that's the case shouldn't we be worried about a possible perhaps stalling out or a down move later on in 2025 if those semiconductor stocks right now are starting to tail off well that's in a great point and I think that's why um investors are taking in a very much await and C approach as opposed to by now it'll get better in a quarter or two um we're going to have a bunch of tech conferences coming up the management teams will speak and present to investors I don't think you're going to learn and hear anything dramatically different I think that the companies that are more closely affiliated with the a data center buildout are going to sound fantastic G but broadly speaking those other sectors I mentioned that have been soft I don't think you're going to see enough visibility and Clarity to convince people that anything's around any improvements around the corner so like I said I agree I think that you're going to see these stocks kind of continue to now the good news is is that these stocks eventually will find to bottom and then as soon as these companies start maybe even cutting numbers let's say the stocks actually react favorably because it's almost discounted in the price that's another thing I think if we get you know the Trump Administration we get more clarity on the tariffs we get these Biden export controls out of the way and now and then I think some investors will start to figure that these stocks have already discounted some of this negative news flow and they'll start to trade higher welcome back to to squat boox some an interesting story to tell you about this morning Walmart now saying that it is ending some of its diversity initiatives it's removing some LGBT related merchandise from its website and winding down a not for-profit that funded programs for minorities in addition to changing the title of its Chief diversity officer position to Chief belonging officer the corporation is now removing the phrase diversity equity and inclusion from its corporate documentation after receiving criticism from conservative groups Walmart has joined an increasing number of businesses that have reduced its die measures tractor Provisions as I mentioned earlier Rody Starbuck the activist behind Lowe's Ford moles and Kors has LED anti-d and anti-d campaigns against consumer facing companies Across the Nation last week he warned Walmart executives that he would be doing a story on quote wokeness at Walmart Walmart claimed that these improvements are being made by CH who has been working on on the project for a few years and that they were not the outcome of their discussion with Starbucks I'm not sure if that is him andu I adore a man bun based on your statement I adore a man who is the one behind the video he's the anti-d person and he has a man bun which is kind of cool I love that guy huh that's the dude Andrew do you think about it am I thinking about these die policies or the man bun I won't get too serious about you and we won't talk about about the man bun
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