Ghazal Ahmed
2 min read
In This Article:
We recently published a list of 10 AI Stocks on Wall Street’s Radar. In this article, we are going to take a look at where Apple Inc. (NASDAQ:AAPL) stands against other AI stocks on Wall Street’s radar.
On June 3rd, JPMorgan analyst Samik Chatterjee reiterated an Overweight rating on Apple Inc. (NASDAQ:AAPL) with a $240.00 price target. With Apple still working on features that it promised in last year’s event, analysts are of the view that this year’s Worldwide Developers’ Conference (WWDC) is going to be a low-key event.
Some of the announcements expected at this event include the company expanding the distribution and integration of third-party AI large language models (LLMs) beyond ChatGPT. However, these developments are only incremental, and the company is seen to be significantly behind major tech companies in artificial intelligence advancements.
A wide view of an Apple store, showing the range of products the company offers.
Apple is going to leverage the Developers Conference to showcase its expanded AI capabilities as well. This is much needed, considering investors need increasing reassurance about the company’s relevance and improved position in AI.
The analysts also guessed potential surprises that could be made at the event, such as specific timelines for upgraded Siri features in North America by 2026 or even the announcement of Apple Intelligence in China, though it seems less likely.
Other announcements anticipated by the firm, albeit incremental, include enabling third-party app developers to access on-device AI LLMs, integration with Google Gemini, and reiterating AI feature integrations across Siri and native apps.
Apple is a technology company known for its consumer electronics, particularly the iPhones and MacBooks.
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Disclosure: None. This article is originally published at Insider Monkey.
