The fund will track an evolving index of artificial intelligence plays, based on Ives' research.
Still, the analyst maintained his outperform rating.
The analyst lifted his price target by $150.
The analyst said Apple is the hardest hit U.S. tech company by the levies on China.
Apple shares are already suffering from President Donald Trump's higher tariffs, according to Wedbush Securities analyst Dan Ives.
Wedbush analyst Dan Ives' new price target for the electric vehicle maker still implies an upside of nearly 32% from Tesla's Friday close.
Retaliatory tariffs may cause serious damage for the U.S. tech industry, according to the Wedbush analyst.
Retaliatory tariffs may cause serious damage for the U.S. tech industry, according to the Wedbush analyst.
President Donald Trump's extensive tariffs rollout on Wednesday was worse than expected for the market, according to Wedbush's Dan Ives.
President Donald Trump's extensive tariffs rollout on Wednesday was worse than expected for the market, according to Wedbush's Dan Ives.