From NASDAQ.: 2024-04-16 04:40:00

Technology stocks have had a mixed start to 2024, with the Nasdaq-100 index up 5% year to date, but Apple (AAPL) down over 10%. Analysts project slow growth for Apple in fiscal 2024, but AI developments could be a game-changer. Bloomberg reports suggest Apple is gearing up to launch AI-capable MacBooks, tapping into the fast-growing AI PC market. With a potential boost in iPhone sales expected from AI features, Apple’s stock valuation is looking attractive to investors.

Analysts believe AI could lead to a robust iPhone upgrade cycle for Apple, potentially attracting new users and boosting sales. With projections of 1 billion AI smartphones to be shipped between 2024 and 2027, the company is poised for significant growth. Trading at a discount compared to the Nasdaq-100, Apple’s stock has a median 12-month price target of $200, indicating a potential 16% increase.

The Motley Fool Stock Advisor team has identified Apple as a potential investment opportunity, but other stocks have also been recommended. The service provides investors with guidance on building a successful portfolio and offers regular updates and stock picks. With a strong track record of outperforming the S&P 500 since 2002, the Stock Advisor service could help investors capitalize on promising opportunities in the market.



Read more at NASDAQ.: Apple: This Beaten-Down “Magnificent Seven” Stock Could Start Soaring Thanks to Artificial Intelligence (AI)