Investors Shouldn't 'Run To The Hills' Over Tariffs: Dan Ives Points To 8 AI Stocks 'To Own'

President Donald Trump's tariffs on Mexico, Canada and China went into effect Tuesday.

A top tech analyst examines how tariffs might affect technology stocks.

The Analyst Takeaways: Wedbush analyst Daniel Ives said tariffs could create a "game of geopolitical poker," but he isn't panicking.

"There have been many times over the past few decades that geopolitical tensions and government actions have been a major overhang on stocks," Ives said.

The analyst cites wars, international conflicts, policy issues, debt crises, COVID-19, supply chain concerns, and currency battles as factors that have weighed on stocks previously.

"With Trump's Mexico and Canada tariffs now beginning and China tariffs on deck, investors around the world are entering a very nervous period especially for growth stocks."

Ives encourages investors to take a step back and remember that it was known that some form of tariffs by Trump were going to happen.

"It's all about how long it lasts and when negotiations start to get to deals on the table with China, Canada, Mexico and many other countries on reciprocal tariffs."

Ives expects Trump's speech to Congress on Tuesday to lay out more plans on his tariffs and the investments being made by tech companies in the U.S.

"The biggest risk to this market and AI Revolution trade in the near-term was that Trump takes an aggressive approach to China, chip export controls and broader global policy."

Ives said DeepSeek helped accelerate the China policies and the semiconductor sector will likely see increased export controls around China.

"There is one chip in the world fueling the AI Revolution and it's Nvidia."

The analyst said that in the current AI Arms Race, NVIDIA Corporation NVDA GPUs are "the new gold or oil."

Ives said if the tariffs stay in place, "there will be major pain ahead for U.S. consumers."

"We caution this is all a game of high stakes poker to get other countries to the negotiating table and will very likely not last for an elongated period of time."

Read Also: Warren Buffett Unfazed By Trump’s Tariff Threats: Oracle Of Omaha Bets On Mexico, Beer

The Tech Winners: The analyst said tariffs aren't likely to slow down the long-term tech trade with AI being the biggest tech storyline since the Industrial Revolution. Ives said tariffs could slow things down in the near-term.

Ives calls the following stocks as the winners of the AI Revolution in tech that will "remain the stocks to own."

• Apple Inc AAPL: $325 price target
• Amazon.com Inc AMZN: $280 price target
• Salesforce Inc CRM: $425 price target
• Alphabet Inc GOOGGOOGL: $220 price target
• Microsoft Corporation MSFT: $550 price target
• Nvidia: $175 price target
• Palantir Technologies PLTR: $120 price target
• Tesla Inc TSLA: $550 price target

"Any weakness is a buying opportunity in our view given the fundamental demand picture."

Ives said this is not the time to "run to the hills" and is the time to own the AI winners listed above.

Price Action: The Invesco QQQ Trust QQQ, which often serves as a barometer of the overall tech sector, is down 1% to $491.91 on Tuesday. The ETF is down 4.0% year-to-date in 2025 and up 10.3% over the last year.

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