Source: Zhitong Finance
Bank of America maintains a “buy” rating for Apple, with a target price of $230.
According to some sources,$Apple (AAPL.US)$The plan is to fully upgrade its virtual voice assistant Siri using the most advanced artificial intelligence (AI) model. Bank of America said this type of update could increase productivity and drive the iPhone's upgrade cycle. Bank of America maintains a “buy” rating for Apple, with a target price of $230.
Bank of America analyst Wamsi Mohan said in the report: “We have emphasized that we expect artificial smartphones to become mainstream over time.” “In view of Apple's multi-year upgrade cycle, rising gross margin, and long-term service growth, we maintain our buy rating for Apple.”
According to reports, Apple will allow Siri to control specific app features on the iPhone with voice, which will be launched next year. Mohan believes that the upgraded Siri can be integrated with apps such as SMS, payment, ride-hailing, fitness, and photography.
In fact, Mohan has always been optimistic about Apple. The analyst bucked the trend in April and tied Apple as the preferred stock for 2024. At the time, concerns about growth, particularly the iPhone's growth in the key Chinese market, as well as regulatory pressure and a lack of strategies around artificial intelligence, weighed on Apple's stock price.
Apple will host its annual developer conference next month and deliver the much-anticipated keynote address on June 10th.
Editor/jayden