U.S. stocks are in record territory, and at least one Wall Street bull sees equities rising further this year.
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Dan Ives, Managing Director and Senior Equity Research Analyst at Wedbush Securities, remains constructive on stocks entering the second half of 2025, saying in an interview with TheStreet.com that he believes technology stocks such as Nvidia (NVDA), Tesla (TSLA) and Meta Platforms (META) will power the market higher in coming months.
Ives said that despite being at record levels of around 6,200, he thinks the S&P 500 (SPY) could hit 7,000 by the end of 2025, which would be 13% above current levels. Ives also said that he sees the technology-laden Nasdaq (NDAQ) climbing another 15% by year’s end. “The AI revolution is just hitting its next stage of growth from software to consumer to really the rest of the supply chain,” said Ives.
Underestimating Growth
During the interview, Ives stressed that he believes Wall Street is underestimating the potential growth for corporate profits and stocks in the second half of this year, as well as into 2026. Ives thinks current estimates are off by anywhere from 10% to 15%.
“I think numbers go a lot higher because of the spending, and because we’re going to see two trillion of incremental spend over the next three years,” he said, adding, “That’s bullish for Nvidia. Bullish for Microsoft (MSFT). Bullish for Palantir (PLTR).”
Is NVDA Stock a Buy?
The stock of Nvidia has a consensus Strong Buy rating among 40 Wall Street analysts. That rating is based on 35 Buy, four Hold, and one Sell recommendations assigned in the last three months. The average NVDA price target of $175.28 implies 15% upside from current levels.
