Musk and Tesla will be the biggest winners under Trump, says Wedbush's Dan Ives

It takes us to our talk of the tape, whether another tech run is just getting started. Let's ask Dan Ives, global head of technology research at Wedbush, with me here at Post 9. Nice to see you, man. Great to see you. Should we be surprised at all at the fact that these stocks are once again surging, that they're hitting in many cases new highs almost every day? I think it's, look, it's get the popcorn out because it's just the start of what's going to be the AI revolution as the second, third, fourth derivatives play out. Me and you have talked about it. Trump administration in. That's a Goldilocks scenario for tech deregulation from FTC to NHTSA and others. And that's why when you look at Tesla and others, the street now is just starting to realize, I think, how this plays out. And that's why I think over the next 12, 18 months, NASDAQ 25,000. OK, so that's what this is primarily about. The Trump administration being more friendly for tech. No surprise that you've got a parade of CEOs down to Palm Beach, a pilgrimage, if you will, to talk to the president elect. I think there's two reasons. One, it's the multiplier. I mean, we thought for every dollar spent on a video chip, there's an 8 to 10 dollar multiplier across the rest of tech. So when you get enterprise, when you get software, you get cybersecurity, other parts of infrastructure, I think now you're starting to see that trade spread out because it comes back to it's 10 p.m. in the AI party that goes to 4 a.m. Now behind the velvet robes, Benioff and others are getting led into the party. But when you look at it from a deregulatory perspective in the Beltway, that's why this is this is setting up for what's going to be a golden era for the AI. And now from a deregulation perspective, FTC, whether it was dealmaking, Nitsa when it came to autonomous, now it's just getting started to what we view as really what's going to be just a unique, special moment. You think that the cases that were either talked about or brought in the current regime of Washington, the White House, are they going to disappear? Are they not going to be as onerous as maybe you once thought? I mean, game that out for me, because that still is an overhang of the Friday, the 13th and whatever the worst horror movie Nightmare on Elm Street for tech stocks has been Lena Kahn, right? So with her gone from the FTC, I think 80 and 90 percent of what I'll say the overhang starts to get removed. DOJ and others, clearly that's going to continue to play out when it comes to Alphabet, when it comes to Apple and others. But I think the antitrust, the concern, I think a lot of that starts to abate. But the biggest thing is this is just this is the beginning. Get the engines sort of roaring. Who wins the most? Well, I think Mike, I think Microsoft is going to be is going to win the most in terms of from an M&A perspective, and they're going to get aggressive on M&A. I think you're going to see Alphabet and Amazon also continue to expand, not just from a cloud perspective when it comes to chips. And I continue to think the bet the biggest winner in all of this at the top of the mountain is Musk and Tesla. They continue to be the biggest winner. It was a bet for the ages in terms of Musk betting on Trump. So let me break that down. There's a lot there's a lot in there. I want to get you first. Microsoft is your first answer as to who's going to benefit the most. What's going wrong with that stock? Why is it so dramatically underperformed? All of the others, it hasn't hit a new high since the summer. Yeah, I think the street is and I think a little is happening with NVIDIA as well. I think they're underestimating just what this enterprise demand is going to look like when it comes to more and more. Only 45% workloads in the cloud today as more and more of these AI use cases get launched. Microsoft is going to be a core beneficiary. I believe, Scott, we're sitting here a year from now, $4 trillion market cap. Microsoft, along with Alphabet, continues to be table pounders when it comes to large cap tax.