Analyst Ming-Chi Kuo Posts On X "The Previous Market Consensus For 2024 iPhone Shipments Was 220M-225M Units, And It Has Now Started To Fall, Moving Closer To My Earlier Prediction Of 200M Units. If Apple Can't Launch Better-Than-Expected GenAI Services This Year, Nvidia's Market Cap Will Very Likely Overtake Apple."
Portfolio Pulse from Benzinga Newsdesk
Analyst Ming-Chi Kuo predicts a decrease in 2024 iPhone shipments to 200M units from the previous consensus of 220M-225M. He suggests that if Apple fails to launch impressive GenAI services this year, Nvidia is likely to surpass Apple in market cap.
March 05, 2024 | 4:32 pm
News sentiment analysis
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NEGATIVE IMPACT
Apple's predicted decrease in iPhone shipments for 2024 could negatively impact its stock price, especially if it fails to launch significant GenAI services.
The decrease in projected iPhone shipments indicates potential revenue challenges for Apple. Additionally, the failure to launch competitive GenAI services could further impact investor sentiment and Apple's market position, potentially leading to a decrease in its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Nvidia's market cap is likely to surpass Apple's if Apple fails to impress with GenAI services, positively impacting Nvidia's stock.
Nvidia stands to benefit from Apple's potential shortfall in the GenAI services sector. As the market anticipates technological advancements, Nvidia's positioning in AI and its potential to surpass Apple in market cap could lead to increased investor confidence and a positive impact on Nvidia's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80