Analyst forecasts Nasdaq reaching 30,000 as AI stocks gain momentum

May 11, 2026

AI Summary

Dan Ives from Wedbush Securities predicts the Nasdaq Composite will hit 30,000 points within a year, driven by strong earnings in the tech sector and growing enthusiasm for AI stocks. Despite warnings from some analysts about a potential market bubble, Ives remains optimistic about the ongoing AI rally and its impact on the semiconductor market.

Dan Ives, managing director at Wedbush Securities, predicts the Nasdaq will rise to 30,000 points in the next year due to a strong earnings season and enthusiasm for AI stocks.
The Nasdaq Composite closed at 26,247.08, reflecting a 12.93% increase this year.
Ives noted a significant demand for chips, stating the demand-supply ratio is 10-1, and emphasized that the AI revolution is still in its early stages.
Michael Burry expressed concerns that the stock market's focus on AI resembles the late stages of the dot-com bubble.
Ives believes the AI rally will continue for another two years, driven by unprecedented demand for memory chips.
The Nasdaq's PHLX Semiconductor Sector Index has increased by 38% over the past month, with major companies like Intel, Nvidia, Apple, and Alphabet experiencing double-digit growth.
Paul Tudor Jones also indicated that while the AI-driven bull market has room to grow, there may be significant valuation corrections in the future.

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Analyst forecasts Nasdaq reaching 30,000 as AI stocks gain momentum

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