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welcome back to the watch list I'm Nicole pedales joining me right now Dan IES managing director equity research at wed Bush Securities you've talked so much about the tech Revolution all about these Tech names the Magnificent 7 which now amount to $13 trillion in a market cap as we are now almost at 5,000 on the S&P so we had a dip but you were right in the end um noting the upward um trajectory now ai is our next real big topic I mean it started 2023 what are you thinking about adopting AI in 2024 where does it start and and continue I mean ni the revolution's here and I think if you listen to the Microsoft transcript the messy of AI paler mation's happening and we see it from our checks every day across Cloud across software I think now it's really going to chips the software this is just get the popcorn ready in our opinion it's it continues to be the that start in the fall this new tech full markets here so when you say uh from Cloud to software so what are we thinking like from Intel AMD Nvidia to what I think to salesforce.com to Adobe of course what's happening in Redmond in terms of Microsoft and then you look at the Messi of AI pounder I think probably the best Pure Play AI name out there mango DB snowle that that's just some examples and then you look at the cyber security piece names like veronis tenal palal which I continue to view as a table pounder and we continue to love the Godfather of AI Jensen Nvidia but this market and it goes back to like you you could with a magnifying glass focus on a 60 Minutes train transcript instead I'm going to focus on Tech earning seas and what we're seeing here so I mean are are we should we not be worried about the economy because AI will solve everything it we'll see the growth we'll see everything moving from point A to point B and Supply chains will work and you know everything that people need they will get I mean should we stop worrying I mean me and you have talk about this you know for many many years right like I'm not someone that's going to become hyperfocused on when the fed's cutting in March or may fed's cutting this year the soft Landings here and the bare narrative that you know they've continued to use over the last decade every time they come out of hibernation mode focus on valuation their spreadsheets instead you know someone like ourselves like spend so much time on the road we see the use cases this is the biggest PCH transformation since the internet 19 95 so my view is that you'll have dips e and flu Black Swan events whatever it may be but I think we look out next 12 18 24 months this Tech bull cycle continues yeah you know Kathy Wood joined on to the paler party Arc got more involved here Arc hord's 43 million paler stock following that big earnings jump you're talking about paler it's a name you've always liked but we saw that big gap up after earnings um also kathywood noting um Tesla and saying once Tesla comes out with this $25,000 vehicle it is going to be in huge demand and you know I just had a moment ago had a guest on who said look Tesla's down 25% it's a buy um do you still like names like Tesla yeah I mean look we have a 315 price Target obviously it's been very choppy in terms of post conference call and obviously you what we've seen in in terms of the the Delaware issue and there's a lot of noise going on but we've been here before back against the wall it's still the second third inning of the Tesla story playing out I'm not saying that this is going to be Rosen champagne but we've seen it before and then they get through it and you're going to be talking about coming that one point it's going be doing three four million vehicles per year and I think Kathy's right I mean but you when when you go through periods like this all the haters come out you know uh in in in almost at a central cast you were not happy though you were not happy with the last earnings call I mean you felt that Elon Musk did not uh come in like an adult and give any sort of Clues instead he just gave some big picture Vision so um you know Elon Musk still needs to bring it right I mean there's concerns about a little bit of everything his distractions we know they're looking at maybe more layoffs um even some drug use references that have been popping up and so on and so forth you need communication I mean go back to the tactician the Hall of Famer you know if you if you look at if you look at what happened on you know paler you look at Microsoft that's just some examples of what we've seen all right we're going to leave it right there it is always our pleasure speaking with Dan I of wed Bush Securities thank you Dan IES
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