Analysts Bullish on Tech Giants' AI Capabilities - Upgrades for Apple, IBM, Marvell, Broadcom; Baidu Called Best AI Play in China
• Bank of America upgrades Apple to Buy citing multi-year iPhone upgrade cycle to support AI features and higher services growth
• Evercore ISI upgrades IBM to Outperform based on its ability to help enterprises deploy AI tools seamlessly amid data security concerns
• Citi moves Marvell to Top Pick on continued growth in AI optics and custom ASIC AI chip sales
• Goldman Sachs reinstates Broadcom at Buy expecting strong double-digit growth in its AI-related networking and custom compute businesses
• Morgan Stanley calls Baidu the "best AI play in China" with ads and cloud growth driven by contributions from AI