Reported 8 months ago
On June 24, 2024, Apple unveiled Apple Intelligence at the Worldwide Developers Conference, turning the tide and leading analysts to continuously raise their target prices. Recently, investment firms CFRA and Bernstein raised Apple's target price to $240, signaling a 14% potential increase in stock price. Analysts are optimistic about the continued rise in Apple's stock price following WWDC, with a 27% increase from its low point in April. Both CFRA analyst Angelo Zino and Bernstein analyst Toni Sacconaghi believe that Apple's AI initiatives will drive a significant upgrade cycle and revenue growth, with a focus on AI search capabilities and third-party app integration through Apple Intelligence.
Source: YAHOO