Dan Ives Shoots Down AI Skeptics, Cites 5 Times Doubters Got It Wrong — From Apple To Netflix And Beyond

• Ives highlighted Apple’s launch of the iPhone in 2007, Netflix’s transition from a rental DVD business to a streaming giant, and Microsoft’s embrace of the cloud.
• For instance, Apple’s iPhone is now a cash cow for the company, with iPhone sales totaling $49 billion in the September quarter, while overall revenue stood at $102.5 billion.

Wedbush Managing Director Dan Ives on Friday clapped back at skeptics of artificial intelligence technology amid growing concerns around over-investment and leverage in the sector.

The tech bull highlighted several transformations in the technology sector in a post on X, ranging from Apple Inc.’s (AAPL) entry into the smartphone market to Netflix Inc.’s (NFLX) launch of streaming services in 2007.

Ives’ comments come a day after a rally in U.S. equities following Nvidia’s blowout third-quarter earnings fizzled out.

Nvidia shares were down by nearly 2% in Friday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘extremely bullish’ territory at the time of writing.

Nvidia reported earnings per share (EPS) of $1.3 on revenue of $57 billion, compared to analyst estimates of an EPS of $1.26 on revenue of $54.62 billion, according to Stocktwits data.

Apple’s iPhone

Apple’s iPhone launch in 2007 is among the most prominent events in the technology industry in the 21st century. In an industry dominated by Nokia and BlackBerry, with smartphones featuring QWERTY keyboards and touchscreens being as rare as unicorns, Apple launched the iPhone, featuring a full touchscreen and without a physical keyboard.

Apple’s iPhone is now a cash cow for the company. iPhone sales totaled $49 billion in the September quarter, while overall revenue was $102.5 billion.

Netflix’s Streaming Launch

Netflix launched its streaming services in 2007, after a decade of doing the mail-based DVD rental business. The company transitioned its rental DVD subscribers to unlimited streaming at no additional cost, driven in part by Hulu and Apple’s video rental services.

In its most recent quarter, Netflix reported revenue of $11.51 billion and EPS of $0.59.

Microsoft’s Cloud Embrace

Microsoft’s cloud embrace came with a leadership transition. In 2014, Steve Ballmer stepped down as the company’s CEO and was succeeded by Satya Nadella.

Since becoming Microsoft’s CEO, Nadella has overseen a series of product and service changes, including expanding Azure cloud services, ending its smartphone ambitions, and introducing several major updates to Windows.

During Nadella’s leadership, Microsoft also invested in OpenAI, making it one of the biggest stakeholders in the AI startup that is now valued at $500 billion.

NVDA stock is up 35% year-to-date and 24% over the past 12 months.

Also See: Dow Futures Rise As Wall Street Looks At End Of A Rollercoaster Week: INTU, WBD, GAP, MSTR Among Stocks To Watch

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on