Apple Analyst Says 'Historic' Upgrade Cycle Will Push Valuation Past $4 Trillion As Cupertino Sets Date For AI-Enabled iPhone Launch

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Biggest Upgrade Cycle: The launch of the artificial intelligence technology-enabled iPhone 16 in Apple Park will set in motion Apple’s biggest upgrade cycle in history, said analyst Daniel Ives.“AI is on the doorstep,” he said.“Our recent Asia checks are giving us more confidence this upgrade cycle will unleash a long-awaited renaissance of growth for Cupertino over the next year,” he said.

Asia supply chain checks over the past few weeks showed that this iPhone upgrade cycle could be a historical one, setting the stage for a supercycle, Ives said.

Close on the heels of Apple, Inc.(NASDAQ:AAPL) sending out invites for its Sept.9 iPhone 16 launch event, an analyst at Wedbush maintained an Outperform rating and $285 price target for the stock.

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Author / Journalist: Shanthi Rexaline

Category: Technology

Markets: United StatesChina

Topics: Reiteration Expert Ideas AAPL News Trading Ideas Analyst Ratings Equities Consumer Tech Analyst Color Tech Lucas Maestri Top Stories US0378331005 Benzinga Daniel Ives Stories That Matter Tim Cook Long Ideas Kevan Parekh

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Article Type: News Report

Published On: 2024-08-27 @ 12:50:34 (6 days ago)

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News Source URL: benzinga.com

Language: English

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