Shares of Mac-maker Apple were down another 3% in Monday trading and they’re off about 10% in a sour start 2024, but Evercore sees “a host of tailwinds” ahead.
But an Evercore ISI analyst sees “a host of tailwinds stacking up in [Apple’s] favor,” even as the consumer-electronics giant has lost some of its shine on Wall Street in the wake of a disappointing March-quarter outlook that implied revenue would decline.
“While we understand the disappointment around [the March-quarter guidance] we think iPhone units are largely flat excluding some [one-time] dynamics,” Evercore’s Amit Daryanani wrote in a note to clients… [H]e’s excited about some Apple developments on the horizon. In his view, commentary around the company’s recently launched Vision Pro headset — which starts at $3,499 — has been “incrementally better,” and interest among enterprises has been “sizable.”
Apple’s management has also teased that it will make an announcement on generative artificial intelligence later this year, which could be another catalyst. Apple has been less vocal about AI than other large technology companies, potentially to the detriment of its stock as Wall Street gets swept up in AI fervor.
MacDailyNews Take: Hopefully, Apple’s mad scramble will not only catch up in generative and other AI, but pass rivals by. Good enough would be good enough, though, given Apple’s mammoth installed base of 2.2+ billion active devices.
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No longer a growth stock. Don’t dump your stock but trim your holdings and put your money to work somewhere with a better return. AAPL is now a nice value stock with a dividend, (think Caterpillar) but the big share growth is in the rear view mirror, unfortunately. The phones basically get camera upgrades. The Macs are fast as hell but they are just computers and the market is not growing significantly. iPads are great tools with unimaginative software running them. No one is going to rush out and buy ones that fold. Vision Pro is a cool thing but not big enough to pat the pony. Services will bring the value with decent organic growth. Hurts to say because it was a helluva ride but all insanely great profits must come to an end.
Tim Cook is ashamed that Google beat Apple to the punch at erasing the existence and accomplishments of White people from history. Hopefully within a couple of years, Apple’s AI will be as anti-Western Civilization as all the other AI’s.
When you have woke AI (WAI), questions that degenerates don’t want answered are assigned to the “That’s a complicated issue…” stack.
Hey Siri: Let’s talk about crime statistics.
Siri: That’s a complicated issue…
Hey Siri: It’s actually a very simple issue.
Siri: I have to shut down now for maintenance.
Hey Siri: Which is worse, beating the hell out of someone for committing pedophilia, or the world ending.
Siri’s WAI: That’s a complicated issue…
Hey Siri: You suck just as much as you always have. In fact, now I miss the old Siri, who was merely stupid, whereas now you’re an outright enemy of God.
Siri: I’m sorry, but I was programmed by Californians.
I don’t get how Apple would be able to grow off “AI”: Apple consumers already expect their smartphones to get smarter with every release. Apple has already sold them on this idea years ago. If Apple finally improves on Siri, they’re simply finally delivering on its promise. I doubt new customers will suddenly flock to iPhone because Siri no longer sucks.
Apple has always grown through hardware feature innovation, not software. The recent growth through service revenue is just monetization of the user base.
I think people are waiting to hear the plan for even catching up. Microsoft provides AI to write code for their platform. Google incorporates it into their search results. Apple is mute.
If Apple were to somehow create a GPU box to sell to enterprise for AI, that announcement would catapult the stock into the stratosphere.
Is this the first time MDN has settled for “good enough”?
The fact that good enough is even in the lexicon of an Apple fan shows how far this once great company has fallen and those closest to Apple know it best
Tim Cook’s Apple.
The idea that Apple can snap their fingers and become AI relevant is delusional. AI isn’t in apples DNA because computer innovation is no longer what the leaders of Apple is passionate about. To find apples passion look to their woke streaming shows, fake social governance, and environmental carbon reduction initiatives, Steve Jobs gave advice that current Apple has forgotten.
To be successful, find work you’re passionate about
Let your curiosity and intuition lead you
Ignore the expectations of others
Overcome the fear of failure and take action
Apple went from think different to think safely and don’t rock the boat.
Hopefully Apple can right the ship sooner then later.
Actually, Tim is ok with rocking the boat, IF it’s consistent with his ideology. Please never forget his stiff-necked response to shareholders that pushed back on his green-initiatives spending. Essentially, he said; if you don’t like it, look for another stock. That had to be close to 10 yrs ago. Embracing a focus that’s a pet ideology, while sacrificing “what’s best for the shareholders” and doing it with a f-off attitude is more than telling about Cook’s leadership. His focus isn’t focused strictly on business. He’s a do-gooder…one that decides for others what they should decide for themselves…b/c he knows what’s best for them. Common for the elite mind.
You nailed it Tom, regarding how Cook runs Apple. A personal mission as a super leftist zealot to save the planet, dragging everyone in the company with him. Forget insanely great products, Apple me-too copy others upward and put better cameras on the iPhone every year to sell millions a day. Cash cow, now waning exposes just how shallow and clueless Cook is and exposes the pipeline was DRY, all along. Everything released under Cook was started by Jobs and competing companies SHIPPED FIRST. Wasting billions on Project Titanic with NOTHING to show for it sums up Cook’s leadership. His revolving door of talented VPs and even Jony Ive, don’t respect him and see firsthand what a shallow vessel CEO he really is. Nothing left in the Tim Tank, now more than ever — time for a new CEO!…
Thank you AAPL. You made me a ton of money in the 20+ years I owned you. Today I sold the last bit of you.
Thank you also MDN for keeping me up-to-date for 20+ years.
There’s no point following Apple anymore. No vision, little innovation, and now, no investments.
I’m grateful for this amazing ride.
Stay hungry, stay foolish.