Ives Remains Very Upbeat on NVIDIA Corporation (NVDA), Tesla, Inc. (TSLA) and Alphabet Inc. (GOOGL)

In a recent interview on the Schwab Network, renowned Wedbush analyst Dan Ives was very bullish on NVIDIA Corporation (NVDA), Tesla Inc. (TSLA) and Alphabet (GOOG, GOOGL).

Ives: NVIDIA Corporation (NVDA)’s Market Cap Can Reach $5 Trillion

Nvidia’s market cap can surge from its current level of $2.8 trillion to $5 trillion, Ives stated. “Developers’ feedback ” regarding NVDA’s products is “off the charts,” while “the use cases for its products are exploding,” the analyst reported.

He asserted that NVDA “owns AI from a chip perspective” and contended that physical AI, highlighted by autonomous vehicles and robots, will prove to be a “holy grail” for the chip giant.

Adding that NVIDIA Corporation (NVDA) is only in the third year of a ten-year advance, Ives called its shares “cheap.”

Ives: “It’s Not Time to Throw in the Towel on Tesla”

Tesla, Inc. (TSLA), along with NVDA, will be “one of the two best disruptive tech plays in the next decade,” Ives predicted. The analyst continues to believe that the key to the company’s longer-term future is its efforts in autonomous driving.

Contending that TSLA continues to have a bright future in China despite tough competition in the Asian country, Ives still identifies Tesla, Inc. (TSLA) stock as a top pick and now has a $550 price target on the name.

 Ives: Alphabet Inc. (GOOGL) Is “Way Oversold”

Amid “antitrust fears,” Alphabet is “way oversold,” the analyst believes. Moreover, the tech giant’s recent deal to buy Wiz, an Israeli cybersecurity firm, suggests that Alphabet Inc. (GOOGL) is “going on offense,” he stated. Also importantly, the deal improves the outlook of Google Cloud Platform (GCP), and GCP is well-positioned to benefit from the continued growth of AI, Ives believes.

Based on a sum-of-the-parts analysis, GOOG stock is worth $225, the analyst stated.

While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as NVDA but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.