TECH - Gene Munster Predicts Apple AI $33B A Year Opportunity Draws Comparisons To This Stock From 2022 | Benzinga
Deepwater Asset Management managing partner Gene Munster thinks that while Tim Cook's first-time mention of AI during Apple Inc.'s (NASDAQ:AAPL) shareholder meeting in January failed to excite investors, he thinks Apple stock action in 2024 reminds him of Mark Zuckerberg's Meta Platforms Inc. (NASDAQ:META).
He also believes Apple's AI play can move the earnings needle for Cupertino in double-digit percentages.
What Happened: Munster expressed optimism about Apple's AI play, stating that the company's first AI model is expected to be announced sometime in June.
However, investors in 2024 so far have not been very optimistic about Apple's prospects like analysts have.
See Also: Gene Munster Suggests Apple Acquire Rivian Following Surprising Cancellation Of Apple Car Project
However, Apple stock itself has not performed as well as it should have if AI is indeed a potential revenue maker for the company.
In fact, the Nasdaq Composite has beaten the Apple stock as far as performance in 2024 so far is concerned.