Dan Ives says tech rout is 'golden buying opportunity' just like during Covid, tariff sell-off

Wedbush analyst Dan Ives, speaking to CNBC, characterized the recent tech selloff as a "golden buying opportunity," drawing a parallel to the sharp declines seen during the Covid-19 shock and the tariff-driven sell-off earlier in the cycle. The transmission mechanism here is risk appetite and multiple compression: a broad de-rating of high-valuation growth equities, which carry long-duration cash flows that are especially sensitive to shifts in discount rates and tariff-related earnings uncertainty. The Nasdaq 100 (NDX) is the most directly exposed index given its heavy weighting in mega-cap technology and semiconductor names with substantial revenue tied to global supply chains and China. The tariff channel adds a second layer of exposure, as trade-policy headlines affect input costs, hardware margins, and export demand across the sector. Traders will be watching the next CPI print and any updates on tariff implementation timelines, since a hotter inflation reading or escalating trade measures would test whether the rebound thesis Ives describes can hold.

The Nasdaq-100 (NDX) is the US large-cap tech benchmark. NDX is more sensitive to rate decisions than SPX because of longer-duration cash flows, and heavily concentrated in Tech/Comms names — mega-cap earnings season dominates price action.

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