Apple shares hit a new all-time intraday high in Tuesday trading of $205.45, surging 6%, after announcing Appel Intelligence at WWDC on Monday.
Apple’s announcement of a partnership with OpenAI to integrate ChatGPT with Siri generated mixed reactions. While some investors remained cautious, others, like D.A. Davidson Managing Director Gil Luria, see it as a game-changer for Apple.
Luria, interviewed on The Morning Brief, expressed bullishness about the news and believes it will significantly boost iPhone sales. He cites Apple’s expected iPhone growth of only 5% next year as too low and raises his own estimate to 10%. He compares this to the higher growth of the iPhone 12 launch, suggesting the AI integration will be a compelling reason for consumers to upgrade to the iPhone 16.
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The iPhone super cycle may finally be here. I think +10% is too low of an estimate. So many people will want a new iPhone because theirs is not an iPhone 15 Pro (Max). And – if Apple does it right, the new iPhone 16 Pro will also have a 5x optical zoom and not just the Max version.