Apple Analyst Says 'Confidence In The AI Upgrade Cycle Is Starting To Show'

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Apple Analyst Says 'Confidence In The AI Upgrade Cycle Is Starting To Show' - Benzinga

Quick Summary:

Chatterjee emphasizes that the upcoming AI upgrade cycle, marked by the launch of iPhone 16 and new features in iOS 18, iPadOS 18, and macOS Sequoia, will play a pivotal role in Apple’s future growth.“The confidence in the AI upgrade cycle is starting to show,” he noted, referring to Apple’s guidance for the upcoming quarter, which indicates a +5% year-over-year growth despite economic uncertainties.

JPMorgan analyst Samik Chatterjee is bullish on the tech giant, reiterating an Overweight rating following Apple’s third-quarter fiscal year 2024 results.“A non-eventful quarter with Apple beating estimates across the board is exactly what is desired as we look forward to the AI upgrade cycle,” Chatterjee stated.

Apple Inc.(NASDAQ:AAPL) continues to set itself apart as a leader in innovation and growth potential, particularly in the realm of artificial intelligence.