Posted 3/11/2024, 10:22:00 PM
Apple's AI and Hardware Advances Could Spur Growth, Says Analyst
- Evercore ISI maintains positive outlook on Apple stock based on AI/edge computing potential
- Sees user experience benefits from on-device inference for large language models
- Apple's control of silicon positions it to expand iOS ecosystem, drive hardware upgrades
- Major hardware updates could spur accelerated device refresh cycle
- Current valuation has strong support; stock price could rise on AI adoption, capital allocation, shift to defensive positions