Big Mo Explodes Apple’s AI iPhone Push in September
Investment bank Morgan Stanley (Morgan Stanley, Morgan) believes that Apple Inc. is accelerating its development of AI (Artificial Intelligence), with the release of Siri 2.0 in June at WWDC (World Wide Developers Conference) and the launch of an AI iPhone in September.
According to AppleInsider, Morgan Stanley has previously said that it expects Apple to benefit the most as AI goes mainstream, and now it’s even more excited about what it describes as Apple’s “Edge AI”.
We believe that by 2024, Apple’s “Edge AI” could be realized, most notably in the form of Siri 2.0 powered by Large Language Models (LLMs) and more broadly by generative AI-powered operating systems (introduced at WWDC in June), potentially boosting the iPhone’s performance. launch), potentially boosting the iPhone upgrade cycle.”
This positive forecast from Damore comes at a time when other analysts have downgraded Apple’s stock, and Morgan Stanley admits, “Our recent supply chain surveys have been mixed, suggesting that product demand will remain uneven in early 2024, however we are buying (the stock) on (demand) softness and believe that there are fundamentals underpinning the recovery on the way. “
DBR maintains its $220 price target on Apple unchanged and says Apple’s services division is growing slightly above its forecasts
