Wedbush's Dan Ives Says Apple Has 'Best Installed Base In The World' For Its AI Future: WWDC A 'Key Moment' For Cupertino
Portfolio Pulse from Rounak Jain
Wedbush analyst Dan Ives highlights Apple Inc.'s significant opportunity in AI, leveraging its 2 billion user base. The upcoming WWDC is seen as a pivotal moment for Apple to unveil its AI strategy, potentially including an AI App Store. Despite being slower in AI adoption compared to rivals, Apple is expected to make a significant leap with the iPhone 16. Apple's focus on AI could enhance its services category and ensure user privacy with on-device AI features. The company's AI initiatives, including acquisitions like DarwinAI, could represent a $33 billion annual opportunity.
April 12, 2024 | 12:20 pm
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Apple's focus on AI, highlighted by its upcoming WWDC and the launch of iPhone 16, positions it for significant growth in the services category. The company's strategic AI initiatives, including potential unveiling of an AI App Store and on-device AI features, alongside acquisitions like DarwinAI, underscore its commitment to leveraging its vast user base for AI opportunities.
Apple's strategic emphasis on AI, as indicated by its plans to unveil key aspects of its AI strategy at the upcoming WWDC and the launch of iPhone 16, is expected to significantly enhance its services category and user experience. The anticipation of an AI App Store and the development of on-device AI features, aimed at ensuring user privacy, are likely to be well-received by the market. The company's proactive approach to AI, including the acquisition of AI startups like DarwinAI, further reinforces its commitment to this technology, potentially opening up a substantial revenue opportunity as estimated by analysts.
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