Source: Golden Ten Data
As Apple seems to be catching up on the AI circuit, Wall Street's bullish voices are getting louder.
Steve Eisman (Steve Eisman), the prototype for the movie “The Big Short” and famous for shorting subprime mortgages before the global financial crisis broke out, said that as artificial intelligence (AI) technology began to appear in the form of mobile apps,$Apple (AAPL.US)$It is in an advantageous position to take advantage of the second phase of the AI wave.
The Neuberger Berman Group (Neuberger Berman) senior portfolio manager said, “Right now, everyone is watching Nvidia, AMD, and data centers. But one day, that day isn't far from us, and many people, including you and me, will use AI apps, but we won't use them in cloud data centers.”
Eisman further pointed out that in order to fully harness the potential of AI, Apple needs to start providing a range of new technologies, from mobile phones to laptops. The potential demand that may arise from this is the reason why Eisman is optimistic about the company's stock.
He said, “At that point, your phone might not be able to run some of the apps you want.”
In the early stages of the AI boom, Apple always lagged behind other peers. However, the possibility of the birth of an AI phone has caused some people who are bearish on Apple to change their attitude. Tony Sacknaghi, the former neutral analyst at Bernstein
(Toni Sacconaghi) changed his opinion in a report last week. He pointed out that AI hardware integration is a favorable factor for Apple, and some people expect the iPhone 16 to start featuring generative AI.
Sakonagi's optimism appeared even before Apple announced its earnings report. At the time, the company's CEO Cook hinted that Apple would announce a major AI plan, and that Apple's performance in the Chinese market was better than expected, getting rid of investors' concerns about its stock price correction, and the company's stock price then rose.
Wedbush (Wedbush) analyst Dan Ives (Dan Ives) wrote on Monday: “As Apple enters the AI-driven iPhone 16 supercycle starting in September, the growth in iPhone sales in China will slowly change from headwind to smooth wind. In other words, over the next month, Wall Street's focus will be on promoting AI products at Apple's June Global Developers Conference.”
Speaking of AI, Eisman has previously touted big investments in infrastructure that will benefit from the technology's huge power demand.
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