[Interview] Ives Ahead of Korea Visit: “Musk Brand Issues Have Faded… Tesla Is the Most Undervalued AI Company”

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Dan Ives, Managing Director and Senior Equity Analyst at Wedbush Securities Inc. and one of Wall Street's most prominent optimists, reaffirmed his view ahead of his visit to Korea next week that "Tesla is the most undervalued AI name in the market in our view."

He also expressed confidence in Tesla's proposed compensation package for CEO Elon Musk, saying the targets are "hittable goals."

Dan Ives, a Wedbush Securities analyst regarded as an expert in analyzing U.S. Wall Street technology stocks, is answering reporters' questions before attending a seminar as a speaker at the headquarters of Hana Securities in Yeouido, Seoul, in February this year.

In a written interview with The Asia Business Daily conducted about a week before his upcoming visit, Ives said, "We have 2-3 years left in this tech bull market."

As one of Wall Street's best-known technology stock experts and a long-time Tesla bull, Ives is widely followed among Korean investors. Following his visit in February, he is scheduled to speak again at a seminar hosted by Hana Securities on October 27, where he will meet investors in person.

Ives emphasized that the concerns surrounding Musk's political activity and its impact on Tesla's stock price have now dissipated, stating that "Musk brand issues have faded."

Wedbush, which had lowered its target price for Tesla to $315 per share in early April due to worries over political risk and sluggish sales, raised it to $500 at the end of May and again to $600 last month.

"It's all about autonomous and robotics now," Ives said, reiterating that "Tesla is the most undervalued AI name in the market in our view."

Tesla, which saw its sales slump in the second quarter, is set to release its third-quarter earnings after the market closes on October 22 (local time).

Ives also voiced strong support for Tesla's board, which recently offered Musk the largest performance-based compensation package in U.S. history.

"The Board made the right move," he said. "These are hittable goals, and Musk remains a key asset for Tesla."

The compensation plan would award Musk stock options in stages based on performance milestones. If Tesla's market capitalization reaches $8.5 trillion, the value of Musk's awarded shares could total around $1 trillion. However, Institutional Shareholder Services (ISS), the world's largest proxy advisory firm, has raised concerns that the package is excessive ahead of Tesla's annual shareholders' meeting in November.

In the interview, Ives reiterated his bullish outlook that Tesla and other technology stocks will continue to rally, driven by the ongoing AI boom. During his February visit to Korea, he had said that "the AI party is just beginning."

Asked about the top players in the AI race, he named Nvidia, Microsoft, and Palantir as the top three leaders.

"Apple is behind," he added, "but will catch up with the Google AI deal on the horizon."

Commenting on geopolitical risks such as tariffs and Middle East tensions under President Donald Trump, Ives described the environment as "the new rules of the game."

He added that "The Street views things as safer with Trump in the Middle East and less risk."

Recently, Ives was also appointed Chairman of the Board at Eightco, a Nasdaq-listed company acquiring Worldcoin, the cryptocurrency project led by OpenAI CEO Sam Altman.

While he did not elaborate on the background of his appointment, Ives said, "I believe in Sam."

"This is just the start for Worldcoin and Eightco," he added. "I am very excited about the future as Chairman of the Board."