Wall Street's most vocal tech bull has named his top five AI stocks for next year, and Nvidia isn't among them.
This came as a bit of a surprise to Wedbush Securities analyst Dan Ives, who is known for being a vocal supporter of stocks as they hit new highs all year.
He is instead focused on several other mega-cap stocks heading into 2026, and sees AI approaching an “inflection point” next year, he wrote in a new note to clients.
“Nvidia will remain our top technology company through 2026, but there are five AI-focused companies that we believe will be front-runners heading into 2026,” Ives said.
More on his choices below.
microsoft
Matthias Bork/Photo in partnership via Getty Images
Ticker: MSFT
Performance in 2025: +16%
Wedbush price target: $625 (+28% upside)
Rationale: Wall Street appears to be underestimating the growth Microsoft will see with Azure. Wedbush also said the company appears poised to make an “AI-driven shift” next year, adding that Microsoft is his favorite large-cap tech stock to own in 2026.
“While AI use cases were significantly built in FY25, it is clear that FY26 is a real inflection point in AI growth for Microsoft as the CIO line builds for deployment.”
apple
Axel/Bauer Griffin/Film Magic
Ticker: AAPL
Performance in 2025: +11%
Wedbush price target: $350 (+28% upside)
Rationale: Wedbush said he believes Apple will start monetizing its AI products in the next few years. Ives estimated that this could add $75 to $100 to the value of each of the company's shares.
“The elephant in the room remains the invisible AI strategy, and with the world's largest consumer installed base of 2.4 billion iOS devices and 1.5 billion iPhones, now is the time for Apple to accelerate its AI efforts.”
tesla
Frederick J. Brown/AFP via Getty Images
Ticker: TSLA
Performance in 2025: +19%
Wedbush price target: $600 (+32% increase)
Rationale: Ives suggested that 2026 could be a “monster year” for Tesla as the electric car company further ramps up its efforts in AI and robotics. He pointed to the company's ongoing development of fully autonomous driving technology and the CyberCab, which is scheduled to go into production next April.
“We believe Tesla could reach a market cap of $2 trillion over the next year, and in a bullish scenario, $3 trillion by the end of 2026,” Wedbush said.
Palantir
Fabrice Coffrini/AFP via Getty Images
Ticker: PLTR
Performance in 2025: +140%
Wedbush price target: $230 (+27% increase)
Rationale: Demand for Palantir's artificial intelligence platform remains “unprecedented,” Ives said.
“We are making strategic moves to remain at the forefront of AI, and we believe PLTR has a golden path to becoming a $1 trillion market cap company, and that valuation will grow as Karp continues to be one of the largest players in the AI revolution.”
cloud strike
Illustration: Nikolas Kokovlis/NurPhoto, Getty Images
Ticker: CRWD
Performance in 2025: +36%
Wedbush price target: $600 (+26% increase)
Rationale: CrowdStrike is gaining momentum in AI trading. It also appears to be increasing its market share as it expands its product suite.
“CrowdStrike remains one of our favorite technology names,” Ives said. “We believe the Street is underestimating CrowdStrike's growth potential as cybersecurity continues to be the second/third derivative beneficiary of the AI revolution. This speaks to our bullishness.”
