The Nasdaq Composite will climb to 30,000 points within the next year, a prominent Wall Street analyst told CNBC on Monday, citing a stronger-than-expected technology earnings season and growing investor confidence in artificial intelligence infrastructure spending.
Dan Ives, managing director at Wedbush Securities, made the prediction on CNBC's Squawk Box Europe. The index closed Friday at 26,247.08, representing a gain of 12.93% so far in 2026. Reaching 30,000 would represent an additional gain of roughly 14% from that level.
Ives argued that recent earnings results had put to rest doubts about whether corporate investment in AI was translating into real business results. "These earnings have validated the AI bullish thesis," he said. "Demand and supply is 10-1 for chips. We are in the early days still of the AI revolution. The haters will hate, and we know that."
The optimism from Ives comes as investor anxiety earlier in the year, driven in part by trade policy uncertainty, has given way to renewed bullishness around AI infrastructure. Both the S&P 500 and the Nasdaq posted fresh record highs on Friday. President Donald Trump is also scheduled to arrive in China on Tuesday evening accompanied by a group of major corporate CEOs, including Tesla's Elon Musk, Apple's Tim Cook, BlackRock's Larry Fink, and Boeing's Kelly Ortberg, according to a White House official cited by CNBC.
