Microsoft, Salesforce, ServiceNow Sell-Off Is Overdone: Dan Ives

Dan Ives is calling the turn. With geopolitical tensions easing after Iran ceasefire developments, the Wedbush analyst sees a risk-on shift underway—and argues that tech stocks, especially Microsoft Corporation, Salesforce, Inc. and ServiceNow, Inc, are mispriced right as AI demand accelerates.

After weeks of industry checks, Ives says the message from CIOs is clear: AI adoption is moving fast from experimentation to deployment. Enterprises are actively identifying use cases, with 2026 shaping up as a major rollout year.

That shift is critical. The market has been pricing software like growth is slowing—but Ives sees the opposite. AI is becoming a top IT priority, with spending set to scale into the trillions across software, semis, and infrastructure.

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In that context, recent sell-offs in enterprise software look disconnected from the underlying demand curve.

AI isn’t just creating opportunity—it’s creating risk.

Ives highlights that…