Reported 8 months ago
A recent tie-up with OpenAI to integrate ChatGPT AI into future Apple products has led wealth management firm Bernstein to raise its price target on Apple stock to $240 a share, anticipating a 15% increase over the next 12 months. The firm believes Apple will benefit from AI through increased device sales, advertising revenue, app sales, and e-commerce commissions. However, despite the positive outlook, Bernstein acknowledges the stock's high valuation at 32.5 times earnings and free cash flow, advising caution to investors. The Motley Fool Stock Advisor team also suggests alternative investment opportunities, highlighting potential growth in other stocks.
Source: YAHOO