Apple shares again slipped in Wednesday morning trading as one analyst says that the company needs to get ‘unstuck’ on innovation to improve growth.
The iPhone maker is contending with headwinds for the technology sector and is under pressure to show it is ready to compete in the field of artificial intelligence.
D.A. Davidson analyst Gil Luria said Apple needs to get “unstuck” on innovation to improve growth in its existing products and add new products, as he kept a Neutral rating on the stock and a $166 target price in a research note on Tuesday.
“We believe Apple will return to moderate growth this year, driven by Services and easier Mac compares. Short-term swing factors include a shorter quarter, looser supply chain comps and Chinese restrictions,” wrote Luria.
One key area for Apple to show it can still innovate successfully is in the field of artificial intelligence. While Apple is reportedly planning to invest billions of dollars in chips from Nvidia to power AI efforts including a revamped Siri digital assistant, it has so far remained tight-lipped about its projects.
MacDailyNews Note: Based on historical earnings dates, Apple is expected to announce earnings between January 26, 2024 and February 02, 2024 (the company has not yet set a date for the release of Q124 results).
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The screen addition to the Home Pod is clearly an innovational to start the “unsticking.” Faster processor in the A-TV too. iPhone screen increase for the 16…. Replacing iPh’s Lightening connector with USB. All mark yrs of skunkworks research!
good one Hiram! 🏆😂🏴☠️
Cheaper RAM add-ons would be an ‘innovation’ for Apple