Apple stock hits all-time high on bullish outlook for AI-focused iPhone releases, potentially undervalued

From Nasdaq: 2024-07-21 05:05:00

Apple’s stock soars to all-time high at $237 per share, up 8% in the last month, outperforming AI rivals like Microsoft and Nvidia. Wall Street bullish on Apple’s upcoming AI-focused iPhone 16 release in September. Stock potentially undervalued with PEG ratio dropping 98% to 4, showing promising growth prospects.

Apple enters AI race with Apple Intelligence software overhaul, seen as catch-up move in AI sector. Apple’s gradual approach led to slower stock gains, but recent AI expansion signals potential growth. Launching new AI features exclusively on latest products like iPhone 15 Pro and M1-M4 chip devices to encourage upgrades, potentially driving stock value.

Apple’s shift to AI and strong services business drive stock potential. Services segment revenue up 14% year over year, surpassing all other divisions with a profit margin of 75%. Stock growth subdued but steady, ideal investment time before full AI integration and iPhone 16 launch in September.

Motley Fool advises caution before investing $1,000 in Apple, recommending other stocks for potential return. Past picks like Nvidia saw significant returns over time. Stock Advisor service offers guidance on portfolio building and stock picks, outperforming S&P 500 returns since 2002. Stay informed with 10 best stocks to buy now for long-term gains.

Disclosure: Alphabet, Amazon, Apple, Microsoft, and Nvidia positions by Motley Fool. Author has no position in mentioned stocks. Stock Advisor returns reflect impressive performance since 2002. Views expressed are author’s own and not associated with Nasdaq, Inc.



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