Bloomberg Talks

Episode: Dan Ives, Global Head of Tech Research at Wedbush Securities, Talks Tech Earnings
Date: October 31, 2025

Episode Overview

In this fast-paced episode, Bloomberg hosts sit down with Dan Ives, Global Head of Tech Research at Wedbush Securities, to break down the tumultuous week in tech earnings. The conversation navigates Apple’s surprising iPhone cycle, AI strategies across Big Tech, Amazon's inflection point in cloud, Meta's aggressive AI spend, and Tesla’s shareholder priorities. Ives also briefly weighs in on the Penn State football coaching search with characteristic enthusiasm.

Key Discussion Points & Insights

1. Apple’s Surprise Upgrade Cycle and AI Prospects

• Apple’s unexpected iPhone 17 upgrade cycle:

  • "[This is a] surprise upgrade cycle. And I think especially what we're seeing in China. Well, China was a decliner. Now you start to see that increasing year over year..." (Dan Ives, 00:58)
  • Apple’s sales in China are up, reversing earlier declines.

• Apple’s AI strategy:

  • "Today in the AI party that started at 9pm, it's now 10:30pm, that party goes to 4am. Cook and Apple, they're on the outside looking behind the velvet ropes." (Dan Ives, 01:38)
  • Ives suggests Apple is currently lagging but poised for a major move, potentially through a partnership with Google now that legal barriers are dropped:
  • "Once Google won that DOJ suit, that clears the road for them to do a significant Gemini partnership where ultimately the consumer AI revolution goes through Cupertino." (Dan Ives, 01:52)

2. Meta’s “Kitchen Sink” AI Spend

• Meta’s aggressive AI investments draw concern:

  • “They're just throwing the kitchen sink at AI right now. But Wall Street, are they approving of the spending Meta is doing in that space?” (Host 2, 02:06)
  • Ives is supportive:
    • "It's a table pounder when that stock sold off yesterday. Because my whole is. This is an AI arms race. You want companies to spend now..." (Dan Ives, 02:18)
  • He calls the tech boom the "fourth industrial revolution," connecting investment at firms like Meta, Microsoft, Google, and Amazon to big opportunities for chip makers like Nvidia and AMD.

• Valuation confidence in Meta:

  • "I love what Meta's doing. I think it's a four digit stock and I think what you're seeing now it's spreading." (Dan Ives, 02:35)

3. Amazon’s Cloud Turnaround

• Amazon AWS vs. competitors:

  • "If you look at the top of that mountain, it's Microsoft and Nadella, and then of course Google... But if you look at Amazon, outside looking in... really, Anthropic has been the opportunity, underwhelming last night.” (Dan Ives, 03:38)
  • Describes this as "an inflection point quarter for Amazon," predicting the company is ready to rejoin the tech leaders:
  • "This now is going to change the view of Amazon when it comes to the cloud." (Dan Ives, 03:58)

• Valuation math:

  • "Some of the parts, that's how you get to $343 and $50 stock. And this is a very, very important quarter for the 2Mag 7 within Apple and Amazon..." (Dan Ives, 04:07)
  • Apple and Amazon are finally "at the cool table" of tech again after being seated metaphorically "by the kitchen."

4. Tesla and Musk: The AI Chapter

• Tesla’s CEO compensation and AI:
  • Shareholders are expected to approve Musk’s massive compensation.
  • "There's a better chance of me not eating chocolate Sour Patch Kids tonight than this thing actually getting voted down... Musk is Tesla. Tesla is Musk. He's a wartime CEO right now. You need him in his AI chapter." (Dan Ives, 04:40)
  • Ives reframes Tesla as "an autonomous and robotics play," not a car delivery business.

5. Penn State Football Coaching Search (Personal Aside)

• Dan Ives’s sports passion emerges:
  • "I think, especially after the LSU governor's thing, I think it's the number one coaching spot in all of college football, above Florida." (Dan Ives, 05:28)
  • Suggests likely coaching targets with new athletic direction priorities.

Notable Quotes & Memorable Moments

• On Apple’s AI status:

  • "Cook and Apple, they're on the outside looking behind the velvet ropes. They're looking through the party, through the window." (Dan Ives, 01:38)

• On the AI arms race:

  • "This is a fourth industrial revolution and you want all these companies from Microsoft to Google to Meta to what we see with Amazon. But guess what? They're fueling the AI revolution." (Dan Ives, 02:24)

• On Amazon and the tech leaders' table:

  • "Apple and Amazon both sort of like they're sitting at the table by the kitchen like at the wedding with the random friends... Now they're there [at the cool table]." (Dan Ives, 04:18)

• On Tesla’s shareholder vote:

  • "There's a better chance of me not eating chocolate Sour Patch Kids tonight than this thing actually getting voted down." (Dan Ives, 04:40)

Key Timestamps

• Apple’s iPhone 17 and AI future: 00:58–02:06
• Meta’s AI spend and Wall Street sentiment: 02:06–03:04
• Amazon’s cloud business and inflection point: 03:22–04:27
• Tesla’s CEO comp and the AI chapter: 04:27–05:16
• Penn State coaching search (personal aside): 05:16–06:17

Tone & Style

The tone is energetic, informal, and occasionally humorous, mixing market analysis (“table pounder,” “AI party”) with light banter and offbeat sports talk. Ives’s optimism for tech’s future and tendency for vivid metaphors keep the conversation lively.

Summary Takeaways

• Apple’s surprising iPhone 17 cycle and a future Gemini AI partnership could spark big changes.
• Meta’s aggressive AI investment is seen as positive—Wall Street should want this level of ambition during the ongoing tech revolution.
• Amazon is staging a cloud comeback to rival Microsoft and Google, marking an inflection point for the company.
• Tesla remains firmly tied to Musk and its AI/robotics vision—not just cars.
• Dan Ives’s passion for tech is matched only by his enthusiasm for Penn State football.

Recommended for listeners interested in timely tech sector analysis, strategic thinking on AI, and a dose of Wall Street swagger.