The tech industry is witnessing fierce competition among Apple Inc. AAPL, Microsoft Corp MSFT, and NVIDIA Corp NVDA as they vie to reach a $4 trillion market cap. This race is expected to intensify in the next 6-9 months.
What Happened: Wedbush Securities analyst Dan Ives has predicted that the three tech giants will be the frontrunners in the race to a $4 trillion market cap.
This race is expected to be a key factor in the tech industry’s future, with a potential 20% surge in tech stocks by 2025, driven by the AI revolution.
“We believe the stage is set for tech stocks for another 20% move higher in 2025 with this tech bull market led by the AI Revolution,” Ives wrote on social media platform X.
Why It Matters: The race to a $4 trillion market cap has been a topic of interest for some time. In July, Ives predicted that Nvidia, Apple, and Microsoft were on track to reach this milestone, driven by the accelerating AI revolution. This was followed by an analyst’s prediction in August that Apple’s historic upgrade cycle would push its valuation past $4 trillion.
These predictions come amid a turbulent period for the tech industry. On Tuesday, a technical error led to a premature disclosure of ASML Holding NV‘s ASML third-quarter earnings, causing a sharp decline in the company’s stock. This incident also contributed to a broader decline in tech stocks, with the NASDAQ and other large-cap indices experiencing losses.
Read Next:
Tesla Stock Tumbles After Underwhelming Robotaxi Presentation
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
