iPhone 16 sales may be driven by demand for AI
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Investment firm Wedbush bullish on Apple AI and its impact on iPhone 16 sales, suggesting it will lead to a supercycle in 2025.
Wedbush praised Apple's initiatives, noting that Apple Vision Pro is an impetus for the development of artificial intelligence, and advised investors not to worry about sales in China.
In the latest note published by AppleInsider, Wedbush again raises its price target from $250 to $275. The company bases its optimistic position on the expected development of artificial intelligence from Apple in the second half of 2024.
The note states that Apple's introduction of artificial intelligence during WWDC could be one of the most important events of the decade for Apple CEO Tim Cook. This will lay the groundwork for an iPhone 16 supercycle as consumers look to buy AI-focused devices.
It says the exclusive artificial intelligence features introduced in the iPhone 16 will be a prerequisite for a revival of growth, which kicks off a massive overdue upgrade cycle until 2025. last and lowest negative quarter of growth, leading to a positive turnaround in September.
Apple has hinted at advancing artificial intelligence in 2024, and all eyes are on WWDC, where iOS 18 and other operating system updates will be unveiled. If there's any time for Apple to go all-in on artificial intelligence, it will be when the operating system launches with the iPhone 16, hence the optimism among investors.
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