00:00Dan, tech has had this really impressive recovery off the April lows.
00:04It's trading at or near all-time highs.
00:06What's your outlook for the rest of the year?
00:08I mean, I think we're going to continue to see new highs.
00:10And we've talked about, you know, you could be looking at S&P, you know, potentially 7,000.
00:16And NASDAQ, I think there could be another 15% higher.
00:20Because, look, it's our view, the AI revolution is just hitting its next stage of growth.
00:24From software to consumer to really the rest of the sort of supply chain.
00:31And even though we have tariffs and obviously geopolitical, I think it's going to be a risk on pretty significant going into the summer as well as the rest of the year.
00:39So what is it that gets the S&P to 7,000 and the NASDAQ up another 15%?
00:46It's numbers.
00:46I mean, I just believe streets underestimate numbers potentially for second half of the year.
00:51But especially into next year, by upwards of 10 to 15%.
00:55I think numbers go a lot higher because of the spending and because we're going to see $2 trillion of incremental spend next three years.
01:03And even when you start to think about now, sovereigns are starting to look at AI.
01:08You look at that spreading geopolitically despite some of the uncertainty there.
01:13You're going to start to see it pop up more within Asia, within Middle East.
01:18And that's bullish for NVIDIA, bullish for Microsoft, bullish for Palantir, which speaks to my view.
01:24If you focus just on one-year PE valuations, you've missed every transformational tech stock the last 20 years.
