Apple's Adoption Of AI For iPhones Will Drive 'Multi-Year Upgrade Cycle,' Say Analysts Ahead Of WWDC: BofA Sets $230 Target For Its 'Top Pick'
Portfolio Pulse from Rounak Jain
Analysts at Bank of America predict that Apple's introduction of AI-powered 'IntelliPhones' will drive a significant upgrade cycle in the smartphone industry. They have reiterated Apple as a 'top pick' with a target price of $230, indicating a potential upside of over 20% from the current share price of $191.58.
May 29, 2024 | 2:46 pm
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Bank of America analysts predict that Apple's AI-powered 'IntelliPhones' will drive a significant upgrade cycle, reiterating Apple as a 'top pick' with a target price of $230, indicating a potential upside of over 20% from the current share price of $191.58.
The introduction of AI-powered 'IntelliPhones' is expected to drive a significant upgrade cycle, similar to the initial smartphone revolution. This positions Apple favorably in the market, justifying the 'top pick' status and the target price of $230.
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