Bloomberg Audio Studios, podcasts, radio news. Daniel Ives joining us. Dan, I want to get this out of the way right away. You're in registration on an ETF. Come on top of the market. You just want to be on the cover of Barons. Why is your ETF going to be different than the four thousand others out there that don't wear pink coats?
Yeah, and it'll get launch yesterday.
And look to me, it's twenty five years covering tech, right, I mean, it's it's all the research we do in tech and all the investors around the world that have followed us.
Now it's an ETF focused on AI.
What do you what do you envision a portfolio turnover rate will be? Is this going to be buy and hold stodgy ETF or you're going to be in their day trading.
No, it's gonna be It's gonna be pretty long term, right.
I mean we could have changes in terms of our ives AI thirty that meet this up, but look this it's a living organism, right, and I think the AI revolution we've talked about the reason we're doing it now this is only Remember it's only ten pm in the AI party that goes to four am.
Okay, Dan, Michael Purvis just in with us here on the Microsoft moonshot. You know, he's saying it's techs up text down that I don't buy it. What I see here as a bet on future earnings persistency. Can the tech group sustain up thirty percent growth or do they have that still whopping up sixteen percent growth? What's your bundled growth rate for tech Forward?
I mean, look, I think it's acceleration here.
I mean to me, I think Street's under estimating tech growth by three to five hundred BIPs for the rest of the year. I mean, look, what's happening in terms of the AI spending trend, and when it comes to what's happened Redmond, that's right in their backyard. That's why Microsoft is going to be the one that I think that's a stop. Five hundred's next stop. And ultimately, you know, five fifty six hundred does not out of the question.
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Paul up Tucker told me time, Oh, by Redman there exactly. I didn't do well.
There you go exactly. Hey, Dan, Alex Steele and I you know, we just spent two days with the folks at Bank of New York at one of their offsite conferences with their wealth management clients and the B and Y people, to a person said, the most important thing in their business is AI. Just help us step back thirty thousand feet. Now that you've got this ETF, where are we in kind of the ETF deployment, adoption spending. Give us a thirty thousand foot view.
Yeah, I mean, look, I but I agree with what they're saying.
I mean, I think this is the biggest tech trend that we've seen, not just in twenty five years for us, but I think that we've seen the last forty fifty years.
And I think it Look, it's changing the investing climate, right, it's changing the appetite for risk and Paul, my view is that both from the operations, from the use cases perspective they're excluding across financial services, and the appetite for investors globally when it comes to AI again, you want to be in the left lane of Ferrari in terms of big tech going ninety five miles an hour not you know, a lot of these are sort of value thirty miles an hour.
Right, Lan in a minivan to me, I just continue right on tech.
Dan, I the time we've got left the one lagger here. The chart is amazing, folks. Apple is so different from the other mag seven's and there's this thing in this thing Ives. I'm sure he'll be in the third row at the conference coming up for Apple. I'm looking at the screen, Dan Ives, and I'm modeling ninety two one eleven one o eight, ninety eight, one oh four, maybe a modeled one hundred and twenty one billion of free
cash flow out in the next eighteen months. Did you just see that financial performance coming right back over to a stock lift or is it a product China issue?
Well, first off, I think free cash is being underestimated in terms of those numbers. And look, we'll be there on Monday.
It comes down to like they were late on AI, but the consumer AI revolutions coming through Apple, and I think what you will see laid out Monday is now sort of going to be the blueprint for how developers are going to be building AI on top Apple. And then my view is like this overhead and net we're seeing here, this will be short lived as the growth comes back to this story, and I continue to think it's just it's a China driven caught in this category five Tariff.
Storm, DAN the Dan ives webbush AI Revolution ETF. Who is the target audience for this? Do you guys think? And and then second, just gud, what's the timing? When is this coming to market?
Yeah, it came to market yesterday and obviously very exciting first day. Look, it's institutional, but obviously it's retail allowed of investors from around the world. Right, I mean, wherever I go, people say, how do you play AI? Now you're given the vehicle to play my research that ultimately builds this AI theme.
That's what really I think what differentiates is, so, how.
Has your day changed now that you're a portfolio manager A wise one?
But Tom, it doesn't change because this is all built in a research.
If I add, if I'm upgrading, if I'm adding names, all of the research, the AI thirty the ETF is the first TTF built on an analyst research. And I think that's one where investors around the world that follow us and they navigate us for decades, this is now the actual vehicle to play our research in a theme.
Look at you with the waitings. I've got it on the Bloomberg terminal. Of course, folks, that's the way reroll. I'm gonna do the math. We gotta go to bar. But come on, Dan, what are you old? Like eight eight holdings in your ATF.
It's the AI thirty, it's the the ives AI thirty, thirty names that make.
Up what I've used the AI Revolution.
And look it's like this is just it's the second, third, fourth derivatives.
Right, That's why I listened to day Night's congratulations on that, really really major, major congratulations. May you survive the first ninety days