Bloomberg Talks
Dan Ives, Global Head of Tech Research at Wedbush Securities, Talks Tech Earnings
31 Oct 2025
Chapter 1: What is the main topic discussed in this episode?
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You certainly ask interesting questions.
Bloomberg Audio Studios. Podcasts. Radio.
News. This is how you roll when you're a gentleman of a certain age on Wall Street. Friday, blue jeans, proper shirt, blue blazer, solid.
I love it. It's classic.
And then this guy comes in and blows up the entire studio. I mean, we're clashing in so many different directions. I don't even know where to go. But Dan Ives is here. He does all the tech stuff for Wedbush Securities. Dan, you've been busy this week. We've had a ton of tech earnings. I just want to start with Apple last night. The iPhone 17 is a thing, isn't it?
Look, it's a surprise upgrade cycle. I mean, that's the reality. And for so long, we've always talked about these upgrade cycles, a potential super cycle. And this is a surprise upgrade cycle. And I think especially what we're seeing in China, well, China was a decliner. Now you start to see that increasing year over year. That's something, streets coming up in terms of numbers.
The New York City cab driver is embarrassed in Apple the last six to nine months. So this is a bullish scenario, especially leading into what I believe now will be the year of AI, ultimately a Google partnership for Apple, $75 to $100 a share that it adds.
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Chapter 2: What insights does Dan Ives provide on this week's tech earnings?
And you want all these companies, from Microsoft to Google to Meta to what we see with Amazon. But guess what? They're fueling the AI revolution. That's obviously bullish for Nvidia, AMD, and others. I love what Meta's doing. I think it's a four-digit stock. And I think what you're seeing now, it's spreading.
Chapter 3: How is Apple's iPhone 17 impacting the market?
Look at Amazon. Finally, Jassy's saying, don't forget about us. It just shows. And Street continues to underestimate the scope and scale of this fourth industrial revolution.
So, and Alexis, we saw yesterday, Meta, the stock did sell off. They went out and they sold $30 billion worth of bonds. They had $125 billion demand. I was doing that business. Five or $10 billion deals were monster. $30 billion. And I bet you they made five phone calls last night and sold that deal out.
Unbelievable.
I bet you that's what happened. Dan, talk to us about Amazon. Boy, the stock's up 12% pre-market trading here. Talk to us about where they are with their cloud business vis-a-vis Microsoft, vis-a-vis Google. Where's the cloud horizon for Amazon?
For the last few years, right, if you look at the top of that mountain, it's Microsoft and Adela. And then, of course, Google, what they've been done with GCP. And that's been huge, the re-rating that we've seen with Google. But if you look at Amazon, outside looking in, right? I mean, Jassy, even though he's an AWS guy, really, Anthropic's been the opportunity. Underwhelming.
Last night, I think it's an inflection point quarter for Amazon. I think this now is going to change the view of Amazon when it comes to the cloud piece. Look, some of the parts, that's how you get the $340, $350 stock. And this is a very, very important quarter. For the two MAG7, if you think about Apple and Amazon...
Both sort of like they're sitting at the table by the kitchen, like at the wedding, like with the random friends, like they get put that random table. They want to be at the cool table. Now they're there.
Look, there's so much to talk about with Dan Ives, right? Because I want to tick through some of these since we have you here in studio. Tesla, are these shareholders going to vote for this huge compensation package November 6th for Elon Musk?
There's a better chance of me not eating chocolate Sour Patch Kids tonight than this thing actually getting voted down. I mean, the point is this thing is 100% getting voted for. The reality is that Musk is Tesla, Tesla is Musk. He's a wartime CEO right now. You need him in this AI chapter.
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Chapter 4: What is Apple's strategy for AI and how does it compare to competitors?
It is not about deliveries, in my opinion. I think that's why this is so important for shareholders when it comes to Musk.
All right, before we let you go, Happy Valley. Turbulent times in Happy Valley. Penn State, we don't have a coach. But, boy, is that a good seat. What do you think Penn State's going to do in terms of hiring a new coach?
Look, in my opinion, it's the numberāand obviously you could say bias. I think, especially after the LSU governor's term, I think it's the number one coaching spot in all of college football above Florida. To me, you know, Pat Craft, there's no better athletic director, I think, right now in the world than him. And I think they're going to go for Elka at Texas A&M.
I think you go for Clark Lee at Vanderbilt, Manny Diaz, potentially Brahm and others. Look, this is, it's obviously been a very, very, you know, disaster year, but it's our view. We need the right person to ultimately take us to the next level.
There you go. Dan, he's a proud Penn State alum, very involved in the athletic department there at Penn State. And I think he also does some tech research on the side there.
And he looks like Florida, the state of Florida, walking today.
Badly, badly.
As a total side note, guys like Sweeney, they're the ones that give out the full chocolate bar for Halloween. So that, remember, that continues to be, you know, obviously someone that- That's a big spender.
None of the mini candy bars. We can't.
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Chapter 5: How is Meta's AI spending viewed by Wall Street?
market close. Got to say, basically, if it impacts financial markets, if it impacts companies, if it's impacting trends and narratives that are out there, we are on it.
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