From Nasdaq: 2024-06-05 09:31:42

Apple, a tech giant known for its iconic products, is making moves in the AI space. Despite lagging behind competitors like Nvidia and Microsoft, Apple has quietly invested in AI startups and developed its own models. Analysts are bullish on Apple’s potential, expecting AI to boost the company’s performance.

In its recent fiscal Q2, Apple exceeded revenue and earnings estimates. While overall revenue declined, the services segment saw record-high earnings. Apple’s consistent EPS performance and strong cash flow indicate financial stability. With a modest dividend yield, Apple continues to invest in growth opportunities, including AI.

Analysts hold an optimistic outlook on Apple stock, giving it a “Moderate Buy” rating with a mean target price of $205.96. Deepwater’s Munster is particularly bullish on Apple’s AI potential, expecting it to outperform competitors like Nvidia in the coming year. The market anticipates AI advancements from Apple at the upcoming WWDC 2024 conference.



Read more at Nasdaq: Are Investors in Denial About the AI Upside for Apple Stock?