Zhitong Finance learned that Bernstein gave Apple (AAPL.US) a rating “consistent with the market” and set the target price for the stock at $195. Recently, Apple has made numerous reviews, acquisitions, hires, and investments in building artificial intelligence, but has yet to release any new artificial intelligence products. Although many people expect Apple to release major news at the June Global Developers Conference, Bernstein analysts expect Apple to wait until the iPhone 16 in September to announce artificial intelligence features.

Bernstein analysts Toni Sacconaghi and Daniel Zhu said in a report on Thursday: “We expect most artificial intelligence features to be released with the iPhone in September rather than at the global developer conference. Like other key software features, such as Smart Island, Siri, and Facetime, all of these features will be launched when the phone is released. We think the timeline for AI features such as multi-mode Siri and AI health coaching isn't clear.”

Bernstein expects the iPhone 16 to offer at least artificial intelligence features similar to the Pixel 8 and Galaxy 24. Other possible AI integrations include Apple Music, Xcode, Pages, and Keynote.

“Although Apple is developing its own Big Language Model (LLM), codenamed Ajax, the company is also in negotiations with potential partners such as Google, OpenAI, and Baidu to use an external big language model,” Bernstein said.

Bernstein also pointed out the three main ways Apple uses artificial intelligence to make money. These measures include enabling artificial intelligence on its iconic iPhone, getting AI searches through ads, and charging commissions for AI apps.