Apple CEO Tim Cook greeted customers at the Apple Store in New York City on Feb. 2, 2024, for the release of the Vision Pro headset. Apple’s shares rose by 4.3% to reach $175.04, marking its best day since May 5, 2023. This increase occurred amidst a positive day for technology stocks, particularly in artificial intelligence, with the Nasdaq Composite rising by 1.77%.
While Apple shares have declined by more than 5% this year, JPMorgan analysts noted an improvement in sentiment among hedge fund investors, partly due to recent stock price decreases. Despite challenges in iPhone sales in China and reports of canceled projects like the Apple car initiative, JPMorgan analyst Samik Chatterjee believes investors may find comfort in Apple’s current valuation given potential benefits from AI technologies.
JPMorgan analysts anticipate a strong iPhone sales cycle in 2026 due to upcoming AI features. Apple CEO Tim Cook hinted at an AI announcement later in the year during Apple’s Worldwide Developers Conference event in June. Additionally, Apple is reportedly working on new Mac laptops and desktops with next-generation “M4 chips” focusing on AI capabilities, according to a Bloomberg report. The current generation of Apple chips is called M3.
Apple CEO Tim Cook greeted customers at the release of the Vision Pro headset, leading to a 4.3% increase in Apple’s shares on Thursday, reaching $175.04. This was the best day for the company since May 5, 2023. The rise in Apple’s shares was part of a larger trend in technology stocks, particularly those involved in artificial intelligence, with the Nasdaq Composite rising 1.77% on the same day.
Despite a 5% decline in Apple’s shares so far this year, sentiment around the company is improving among hedge fund investors due to its recent stock slide. JPMorgan analysts believe that Apple may benefit from AI technology and predict a strong iPhone sales cycle in 2026 with the introduction of new AI features. Apple CEO Tim Cook has hinted at an AI announcement later this year during the Worldwide Developers Conference in June.
In addition to AI, Apple is also reportedly working on new Mac laptops and desktops with next-generation “M4 chips” that focus on AI technology. This follows the current generation of Apple chips, known as M3. While Apple has not confirmed these reports, there is anticipation surrounding the potential impact of these new products on the market.
Overall, the positive outlook on Apple’s future, particularly in relation to AI technology, has led to increased investor interest and a boost in the company’s stock price. Investors are hopeful that Apple’s focus on innovation will continue to drive growth and profitability in the years to come.
Source link
