One of Wall Street's most prominent bulls said Friday that Donald Trump's tariffs will bring an end to the trade that's propelled the stock market to years of stellar gains.

Following the worst day for stocks in five years, analysts at Wedbush Securities' Dan Ives said he sees a dire cocktail of consequences stemming from Trump's trade war — all of which could end the artificial intelligence boom that's been cheered by Wall Street for the last three years.

That's because the latest tariffs — which lift China's tariff rate to 54% — could serve as a "shut-off valve" for supplies overseas that are supposed to flow into the US tech sector.

Supply disruptions of that caliber could send electronics prices spiking as much as 50% for US consumers, while US tech earnings sink at least 15%, Ives estimated.

"The concept of taking the US back to the 1980's 'manufacturing days' with these tariffs is a bad science experiment that in the process will cause an economic Armageddon in our view and crush the tech trade, AI Revolution theme, and overall industry in the process," Ives wrote.

Technically, the concept of reciprocal tariffs makes sense, Wedbush said. But Trump's team appears to have come up with its latest tariffs package using "convoluted" calculations , analysts said, adding that it looked like the White House based the new duties on other nations' total trade in the US.

:To be clear these are not the actual tariff rates. If a 9th grader in high school presented this tariff chart to a teacher in a basic economics class the teacher would laugh and say sit down and work on the assignment," Ives wrote a day earlier on Thursday as the market first began to digest the tariff news.

The firm said that it had never before seen such a "self-inflicted debacle of epic proportions," referring to the massive sell-off on Thursday.

"The economic pain that will be brought by these tariffs are hard to describe and can essentially take the US tech industry back a decade in the process while China steamrolls ahead," Wedbush said.

"If these tariffs went into place at current form overall tech earnings would come down 15% at least, the supply chain will be a Rubik's Cube rivaling Covid days, and the economy would go into a recession/ stagflation . We assume tariff negotiations start now otherwise dark days are ahead for tech," the firm added.

The extreme bearishness is uncharacteristic for Ives, who has often been able to find a silver lining in negative market developments, arguing over the years that the AI revolution would be unstoppable. He's consistently prophesied a $1 trillion spending boom in the artificial intelligence space.

Tech stocks , though, have been hammered amid the latest tariff-induced volatility.

The Roundhill Magnificent Seven ETF , which tracks the top mega-cap tech stocks associated with the AI trade, dropped 6.87% on Thursday and edged lower another 4% early Friday. The fund is down 20% for the year.

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