Musk comments are 'cautionary;' Apple is a 'table pounder' of a buy - Wedbush's Dan Ives
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Wedbush analyst Dan Ives said Friday that a pessimistic economic forecast from Tesla (NASDAQ:TSLA) boss Elon Musk was at least in part cautionary, as "demand is still outstripping supply globally."
In addition, the high-profile tech analyst told CNBC that Apple (NASDAQ:AAPL) remains a "table pounder" of a buying opportunity at current levels, even if the economy should take a dismal turn.
Ives referred to Apple as a "Rock of Gibraltar tech name" and argued that Wall Street sentiment on the iPhone maker has become "way overly negative," especially as the company has its AR/VR products in the pipeline and the possibility of contracting an NFL package for Apple TV.
"They are in a position of strength despite the category 5 storm that could be on the horizon at least economically speaking," he said.
On Musk, who reportedly told TSLA executives that he has a "super bad feeling" about the economy and expressed a desire to cut 10% of jobs at the EV maker as a result, Ives thinks worries about China represent the main motivation behind the concern.
"I think he's also setting a tone, trying to get ahead of this. Prudent, but no doubt this is going to be one of the knee-jerk -- there's going to be worries that more negative news is coming," he said.

For a more cautious view of Apple's prospects, read why Seeking Alpha contributor ALT Perspective thinks the "no brainer myth is broken."