Apple upgraded to Buy, AMD and Adobe downgraded due to AI challenges and business expectations

From Investing.com.: 2024-06-16 03:29:18

D.A. Davidson upgrades Apple to Buy, praising the company’s AI strategy, “Apple Intelligence.” Price target raised to $230, highlighting new AI capabilities in existing ecosystem and unique agent capability.
Morgan Stanley downgrades AMD to Equal Weight, citing high AI business expectations. Favors Nvidia and Broadcom, projecting limited AI upside potential for AMD despite strong product lineup.
Melius downgrades Adobe to Hold, emphasizing AI challenges in enterprise software sector. Predicts AI-driven disruption to traditional business models, pricing strategies, and SaaS companies.
Morgan Stanley reaffirms Overweight rating on Broadcom, dubbing it “one of the strongest AI plays.” Expects AI revenues to soar from $4.2B in FY2023 to $14B in FY2025, benefiting from semiconductor market growth.
Morgan Stanley suggests Tesla could develop an AI-powered phone, blurring lines between car and phone with potential for edge computing. Points out the relevance of supercomputing in Tesla vehicles and potential for phone to utilize vehicle’s compute power for AI applications.



Read more at Investing.com.: Apple stock lifted to Buy as AMD, Adobe get downgraded By Investing.com