Watching Apple; BofA Securities Issues Note Saying AI Will Drive The Shift From Smartphones To "IntelliPhones"; Reiterates Top Pick
Portfolio Pulse from Benzinga Newsdesk
Bank of America Securities issued a note stating that AI will drive the shift from smartphones to 'IntelliPhones,' which they see as a significant upgrade event. They believe IntelliPhones will dominate edge AI due to their portability, features, and cost. BofA reiterates its Buy rating for Apple with a price target of $230.
May 29, 2024 | 2:28 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Bank of America Securities issued a note stating that AI will drive the shift from smartphones to 'IntelliPhones,' which they see as a significant upgrade event. They believe IntelliPhones will dominate edge AI due to their portability, features, and cost. BofA reiterates its Buy rating for Apple with a price target of $230.
The note from BofA Securities highlights a major technological shift driven by AI, which is expected to benefit Apple significantly. The reiteration of a Buy rating and a price target of $230 suggests strong confidence in Apple's future performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100