Apple Stock: The iPhone maker is poised to lead the consumer AI market.

WhatsApp Group Join Now
Telegram Group Join Now
Instagram Group Join Now

apple ( AAPL ) will be “a dominant force in consumer AI” thanks to its unique advantages, a Wall Street analyst said in a report. Apple stock rose on Friday.


Now running.
How to make more money by handling rapid market swings.

Oppenheimer analyst Martin Yang reiterated his outperform rating on Apple stock and raised his price target to 250 from 200.

In morning trading on the stock market today, Apple stock rose 0.5 percent to 215.21.

“We believe Apple's introduction of Apple Intelligence will position the company as a leader in consumer AI experience,” Yang said in a note to clients on Friday.

Benefit from Apple's Ecosystem

The deeper integration of artificial intelligence functions in the upcoming iPhone software release, iOS 18, allays concerns that Apple is falling behind its rivals in AI, Yang said.

Apple will benefit from its unique ecosystem that marries proprietary hardware and software, he said. In addition, Apple's AI will draw on users' personal context with an emphasis on data privacy, Yang said.

Apple announced its AI strategy, called Apple Intelligence, at its Worldwide Developers Conference on June 10.

“We suspect that WWDC has shown only a fraction of what Apple Intelligence can do in the future,” Yang said. “We expect Apple Intelligence to lead to even stronger integration between Apple's various hardware products. Better hardware integration enables Apple to integrate an iPhone, Mac, iPad, or Apple T After entering the ecosystem through V, Apple could create a wider and deeper moat.”

Apple stock was upgraded to buy.

On Wednesday, Rosenblatt Securities analyst Barton Crockett upgraded Apple stock to buy from neutral. It also raised its price target to 260 from 196. Apple stock hit a record high of 220.20 on June 12 before pulling back.

Apple's privacy-oriented approach to AI should resonate with consumers, Crockett said. Plus, Apple isn't spending billions of dollars on data center infrastructure to support its AI ambitions like its big tech rivals.

Apple stock has an IBD Composite Rating of 91 out of 99, according to IBD Stock Checkup.

Follow Patrick Seitz at X, first on Twitter, at @IBD_PSeitz For more stories on consumer technology, software and semiconductor stocks.

You may also like:

The debate follows a recent drop in Nvidia stock value.

Chip gear stock surges on Micron's capex plans

Is Apple buying stock after the tech giant's AI strategy is revealed?

Market Surge: Research, Charts, Data & Coaching All in One Place

See the stock on the list of leaders near the point of purchase

WhatsApp Group Join Now
Telegram Group Join Now
Instagram Group Join Now

Leave a Comment