Apple Shifts Focus to AI as Tech Giants Position for Leadership in Burgeoning Market
• Morgan Stanley says Apple’s shift from EVs to AI is a “positive development” that allows the company to repurpose assets towards important AI initiatives
• Morgan Stanley hikes Dell's price target to $128, calling it a clear leader in the $72B AI hardware and services market
• Bank of America raises Broadcom's price target to $1,500 ahead of its earnings, citing its position as an AI beneficiary
• Wells Fargo downgrades HP Enterprise on concerns about the pace of AI revenue conversion and normalization of growth
• Macquarie predicts high-profile failures in generative AI this year, citing recent incidents with ChatGPT and Google's Gemini project