Tech bull Dan Ives of Wedbush Securities has raised his price target for Palantir Technologies, signaling a 12% upside from its current trading price over the next 12 months.

Wedbush Securities’ Dan Ives said Apple needs to acquire the $14 billion startup Perplexity in order to catch up and ultimately prevail in the AI race. While the company has an advantage because of the popularity of its iPhone and other iOS devices,

Wedbush's Dan Ives said Apple should consider buying Perplexity and its AI search engine if it wants to catch up to its peers in the AI race.

The managing director of the financial services firm Wedbush Securities is expecting solid gains from tech stocks in the second half of the year.

The Dan Ives Wedbush AI Revolution ETF invests in companies at the forefront of innovation. A 0.75% expense ratio is pricey, but could be worth it if the Ives ETF strategy manages to outperform.