TECH - Ahead Of WWDC Apple Analyst Foresees AI Integration Boosting Stock Value by $30-$40 Per Share: 'New AI Era For Cupertino Begins' | Benzinga
Ahead of Apple, Inc.’s (NASDAQ:AAPL) annual World Wide Developers Conference that kickstarts on Monday, an analyst at Wedbush said a “new AI era for Cupertino begins” at the conference.
The Apple Analyst: Daniel Ives maintained an Outperform rating and $275 price target for Apple’s stock, with the price target suggesting scope for roughly 40% upside potential.
The Apple Thesis: Apple will unveil its highly anticipated AI strategy at the WWDC, and this will likely kick off an AI-driven accelerated growth cycle for the iPhone and Services, Ives said in a note. The analyst views the conference as the “most important” event for Apple in over a decade, given the pressure the company is under to bring a generative AI stack of technology for developers and consumers.
The introduction of AI technology into the Apple ecosystem will bring “ample monetization” opportunities and add about $30 to $40 ...