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Welcome back to the watch list. I'm Nicole Pedalites. Joining me today is Dan Ives, Managing Director of Equity Research at Wedbush Securities, as our special guest . Dan Ives, it's great to see you on the show . When many of the tech companies you once loved fell behind , people started questioning you , but then everything rebounded and hit new highs.
So, you should be feeling a little relieved about 2023 now . Let's talk about Apple and ESPN . Do you think that is a good choice ? Yes Nicole, the question is when will this happen, because it fits right into their strategy for live sports content . I think there's also a chance it could be for sale, given Disney's strategic review .
In my view, this would be a very strategic decision for Cook . When it comes to current streamers , Apple TV lags behind the likes of Disney, Paramount, and Netflix . It's mostly about sports and streaming, but when I think of Apple, all I can think of are new phones, wearables, and VR headsets . Does that mean we can see them in all these areas?
Can they excel at all of them? Are you expecting a new iPhone and more ? Look, that's Cupertino 's golden install base. That's what sets them apart from the rest of the companies in the world. Now the tech sector is focusing more on streaming and live sports content . Look at Amazon. That's a good example.
I think this is just the beginning for Apple . In our opinion , ESPN is like a golden duck . Looking at how this changes over the next six to nine months , we believe this will definitely happen . I think Cook recognizes how successful it has been with the MLS deal and Messi . Even if the deal failed in the case of Pack 12 , it would have been possible to keep it in talks .
This is just the beginning of Apple becoming more aggressive when it comes to live sports content . ESPN is their goal. This is really incredible, because it's a great asset for Disney. But Bob Iger says he's been given more responsibilities than he expected when he returned to a key role at Disney, and he's trying to fix that .
And if they team up with this, it would be interesting , and it would be an interesting entry for Apple . Meanwhile, new phones are selling very hot and very fast during the holiday season . What do you think ? On a scale of 1 to 10. I give this a nine. Maybe even 9.2. I am observing everything we see .
This is going to be better than the iPhone 14 . Regardless of the macro backdrop , this is why, in my opinion , this is a stock worth investing in. That is, while many say the good days are over, the services sector is on track for double-digit growth . And this is important, 240 million iPhones have not been upgraded by anyone in over four years.
I believe this is only half of the Apple stock rally . So today is 177, you know , 198 is the recent high. Will it reach that peak again soon? Oh, as we go into this cycle , I think we'll get there by the end of the year, and then we'll start moving towards three and a half trillion , because we can see 220 if we look at how all of this plays out in the services sector.
As things stand right now , I think investors are underestimating Apple's growth, currency stability, and future prospects . Tell us your opinion about Palo Alto . You liked that stock even before that weird earnings report came out on Friday afternoon . You are committed to your decision . And that turned out to be great news, so what are your thoughts on Palo Alto, where it's going and why ?
Yes, let me tell you one thing, Nicole. It's a great thing that there won't be a conference call after the market closes tomorrow. I mean, I think it was a Zoom experiment done on a Friday night , and I think it was recognized , but ultimately that's the point . This is a great story in cybersecurity and I think it reflects the fact that Palo Alto is emerging as a leader in cybersecurity, gaining more share, and these changes that we are seeing .
I think that in the next six to twelve months, Palo Alto will be a top choice in cybersecurity and outperform the rest of the tech sector . Yes. Looking at the developments taking place in the world of semiconductors and AI, it can be said that everything is somehow connected to AI. We have received excellent figures from Nvidia , and the future predictions are also very good.
What are your favorite companies at the moment? Also, you should know about the people who are leading this sector, like Jensen Wang, Lisa Su, Tim Cook at Apple, and Elon Musk . Would you call them intellectuals or great leaders of our time? Yes. Look, the words spoken last night by Jensen, known as the father of AI, resonated around the world , and despite the minor ups and downs, it was very important.
We think this share price will continue to rise . This is reminiscent of the conditions of 1995 . I think this is the biggest technological change in the last 30 years , which is why we believe a new tech bull market has begun . Speaking of new leaders, there are people like Lisa Suu, the giants Cook, Nadella, and Musk.
These are top- level CEOs. They are playing chess, while the rest of them are playing checkers. With trillions of dollars of additional spending to come, strong institutions will be further strengthened. Now, when Gerber spoke to Kawasaki's Hotham Debbie , he said that he has always been a fan of Elon Musk, but many people are concerned that Musk's focus is being diverted by the Twitter acquisition and SpaceX affairs, and that Tesla has increased competition .
Looking at Barron's, there is a discussion about BYD's market share and Tesla being four times behind it. Is Tesla losing its grip ? I know you've loved Tesla for a long time. Many people like Tesla. It is interesting to note that 232 . Remember that this is also a battery company . This is not just an automobile company .
What do you think the future of Tesla will be like ? I think this is Tesla's world . Everyone else is paying rent . I believe this is just the first step in a growth story , and the modernization we are seeing in the supercharger network and battery sector is proof of that . If you look at FSD, it's like the same golden duck in terms of AI, I talked to the Gerber team, the Gerber Kawasaki team , you know, their ideas are leading the way in terms of Tesla and Nicol.
I think it's time to just say "get the popcorn ready," and see where this green tidal wave goes, but remember : this is n't just limited to Tesla. You're going to see success stories like Rivian . You will have an Infest . You're going to see some companies that are going to transform , Fords, GMs, and obviously some European companies.
There are going to be many winners in this $5 trillion green tidal wave . Yes. And your bull case on Tesla. What is the bull case on Tesla? Ours is 350 base case, bull case is 400. And look , I think the price cuts right now have worked out great . And we really liked that strategy. Even though 95% of those price cuts have passed , you'll see an overreaction, but it's hard to fault Musk for this master poker move.
Okay, Dan Ives , it's great to have you on the show . It's always great to be with you . Thank you very much. I really appreciate it . Don Ives probably played chess while everyone else was playing checkers , because he made the right decisions so many times. Don Ives, Wed Bush Securities.
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