Tech stocks are in the beginning stage of the next bull market and will jump another 12% this year, Wedbush's Dan Ives says

• Tech stocks are in a bull market and could jump another 10%-12% by year-end, Wedbush's Dan Ives said.
• That's due to the hype for artificial intelligence, which is creating another "1995 moment" in the space.
• The tech-heavy Nasdaq, meanwhile, is on its longest winning streak in nearly two years.

Tech stocks are in the early stages of a bull market, and the sector is primed to stage a big rally by the end of this year, according to Wedbush's Dan Ives.