2024-03-18 13:20:53 ET
Apple Inc (NASDAQ: AAPL) is in focus today following news that it plans on licensing Gemini – the Gen AI engine of Google on its upcoming iPhones.
Analyst reacts to the Apple – Gemini news
A potential deal with Alphabet Inc (NASDAQ: GOOGL) is expected to bring new artificial intelligence enabled features to the iPhone.
It’s a “very big deal” for because it positions the iPhone as the “go-to device to interact with large language models” in the near term, as per Martin Yang – a senior Oppenheimer analyst.
He’s convinced that AI will turn “Siri” into a “really helpful agent” moving forward.
The Gemini news arrives shortly after Apple gave up on its long-standing plans of launching an electric car to focus more on artificial intelligence as Invezz reported here .
Watch here: https://www.youtube.com/embed/dAMRdOlfJPo?feature=oembedIs Apple well-positioned to capitalise on AI frenzy?
Note that Apple Inc was recently reported working on an AI-enable ads product as well.
Still, Martin Yang of Oppenheimer is convinced that needs to “catch-up on building its own infrastructure to train large language models”.
He wants the tech behemoth to tap on the opportunity to “implement on-device AI using Apple silicon”. The analyst made those remarks in an interview with Yahoo Finance on Monday.
The Nasdaq-listed firm is slated to report its current quarter financial results in more than a month from now. Consensus is for it to earn $1.50 a share versus $1.52 per share a year ago. Apple stock is currently down more than 10% versus its year-to-date high.
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