Record two. A lot of wins here. All right, let's go deeper in our tech spotlight. I'm so glad to be joined by Dan Ives, global head of tech research, managing director, Wedbush Securities. It is great to see you. A record day on Wall Street. Why have you been so right? Every time there's pullbacks and people say no way, no how, and you say, 'No, let me tell you like it really is.' And why are you so right? I know you do a lot of channel checks and you've gotten it right over and over again on these tech names. Dan Ives, congratulations to you. Good to see you.
It's great to see you, Nicole, as always. Thanks for that. Look, it comes down to checks. Like if you're not talking to customers, if you're not able to understand the supply chain, you're sort of going blind, right? And then you just look at the tape and you look at sort of the bears that have called eight of the last two downturns the last 20 years, and you get caught up in it. And like, look, we just got back from a two-week Asia trip, right? So to me, that's what I focus on. I try to tune the noise out and ultimately determine who the winners are going to be. And that's really hand-holding investors through it. That continues to be the key.
I want to work backwards and talk about some of your outperform ratings, which include Oracle. Which names are you really pounding the table on today?
I mean, today it's really pound the table. It's Microsoft here. It's Nvidia. It's CrowdStrike, Palo Alto, and of course, you know, Tesla and Apple. But I mean, those are the ones if I kind of had to think about it. Those are the ones that I think stick out.
Understood. Let's talk about, I'll go to Palantir. There was a time that, who was it? Michael Burry or they were saying short it, forget it. You know, and the president actually was touting Palantir. Is Palantir definitely sound and has a lot of growth potential? To how high?
I mean, that was a fictional narrative. Palantir, I think, is $1 trillion market cap next two or three years. And look, that's my view. I mean, when I look at Palantir, I think sort of base case is, you know, $200 to $225, as we've talked about, $200 to $225, $1 trillion market cap next two to three years.
Let's talk about a name like Tesla. We've heard a lot about Tesla. And so now obviously we're going to have Elon Musk versus Sam Altman in court next week. You have SpaceX, which maybe is SpaceX going to buy Tesla? Do you think SpaceX gets Tesla under the umbrella before the IPO? I really would like to know what you know. Not before the IPO?
So I think SpaceX IPO, you know, in the summer. And then I'd expect the merger with Tesla in 2027, first half really. I mean, that's sort of, because I think that's the step process that they'll go through in terms of you go public, and then ultimately a merger with Tesla, like I've talked about, I think 80%, 90% type of chance.
All right. What about your $600 target? Still at the 600 mark because you're focusing more on robotaxis and Optimus humanoid robots. Is that why? And energy, I guess.
That's exactly. Look, I mean, I view it as you have to see around the corner. And look, I get the criticism in terms of, you know, what they raise CapEx and you look at deliveries that have sort of been stable, but obviously not blowing anyone away. This comes down to they are step by step building out what I believe, along with Nvidia, is the best physical AI play in the world. And that is my focus in terms of where that's all heading. And I think when I think about autonomous robotics, that alone could be an incremental one to two trillion of market cap.
What did you think of Meta's layoffs more this year from last year? They had some last year and more this year. What did you think of that?
