Apple will be “a dominating force in consumer AI” thanks to its unique advantages, a Wall Street analyst said in a new note to clients released on Friday.
Patriock Seitz for Investor’s Business Daily:
Oppenheimer analyst Martin Yang reiterated his outperform rating on Apple stock and raised his price target to 250 from 200.
“We believe that Apple’s introduction of Apple Intelligence will position the company as the leader in the consumer AI experience,” Yang said in a client note Friday.
The deep integration of artificial intelligence functions in the upcoming iPhone software release, iOS 18, eliminates concerns that Apple is falling behind rivals in AI, Yang said.
“We suspect that WWDC showcased only a fraction of what Apple Intelligence could do in the future,” Yang said. “We expect Apple Intelligence to produce even stronger synergies between different Apple hardware products. Better hardware synergy enables Apple to create a wider and deeper moat once a user enters the ecosystem through iPhone, Mac, iPad, or Apple TV.”
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MacDailyNews Note: On Wednesday, Rosenblatt Securities analyst Barton Crockett upgraded Apple stock to Buy from Neutral. He also significantly raised his price target to $260 from $196.
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It’s nice that analysts are giving Apple credit in terms of A.I. but it’s unfortunate big investors don’t care much about consumer A.I.. All the big investors are only interested in world-changing A.I.. Things like solving problems that mankind alone can’t solve or A.I. that will eliminate tens of thousands of jobs. Apple is small potatoes as far as big investors are concerned. It’s unlikely most big investors will get behind Apple when there are companies that have tens of thousands of Nvidia chips running 24/7/365 building gigantic LLMs that will solve all of mankind’s problems.
Watched a vid of Markie (Mr. FB) talking about the AI Biggies vying to solve the huge problems…with his anecdotal interpretation (not exact:)…”trying to make/be gd.”
Scary sh in my opinion…hubris flying about and landing everywhere, but as they are on the road to an ever-receding destination, AAPL will focus on more tangible, practical and maybe more discoverable mode/means of AI?
“gigantic LLMs that will solve all of mankind’s problems,” could be an admirable pursuit. Meanwhile, others will focus on AI uses for the masses outside the lab. It may take a “cycle, or two,” but with realized uses for the plebs, big $$ may be devoted/redirected to the “small potatoes” as AI materializes in everyday life.
All those silly analysts are being far too anal about it. Apple made the best AI, it’ll just take a while for everyone to see it.
Could MacDaily News be changing its opinion of Apple’s leadership? For years it has been bemoaning Apple’s lack of vision and poor leadership and being far, far, far behind on AI. I wonder how the crow tastes?
Apple showed off a handful of pre-recorded and highly scripted queries. There’s great potential in what Apple is doing but they haven’t delivered yet. If you think Siri, the WORST Apple product of the past 13 years, will suddenly become exponentially more reliable and useful in a few months once Apple flips some magical switch, you’re dreaming.
Why would they be tasting crow?
Apple has yet to deliver on any meaningful AI.
He likes headlines. “There were fine people on both sides” was likely in his repertoire until late (hopefully now realized MSM was full of s).