In a recent note, Bank of America estimated that Apple stock could jump 23% thanks to the upcoming integration of cutting-edge AI features into the iPhone. The next iPhone releases planned for 2024 would mark the start of a new cycle of massive renewal driven by revolutionary capabilities enabled by AI.
An ambitious roadmap in AI
According to Bank of America analysts, Apple is banking heavily on its artificial intelligence capabilities to revolutionize the user experience of its future iPhones and stimulate a massive new renewal cycle. The Apple firm has been nurturing its teams working on AI for several years and is on the verge of making these efforts a reality.
The next generation of iPhone scheduled for 2024 could integrate spectacular advances enabled by AI, starting with next-generation 3D facial recognition, but also immersive augmented reality functions, advanced conversational capabilities, and many others major innovations.
A resounding impact on Apple sales
This news revolutionary features AI-powered technology would have a resounding impact on Apple’s sales, analysts say. They would massively encourage current iPhone owners to take the plunge and upgrade their device, even if it is recent.
We would witness a super-cycle over several years comparable to that initiated by the iPhone 6 in 2015. Each year, the number of devices sold would jump spectacularly, triggering strong growth in Apple’s revenues and profits over the period. .
Ideal growth for the share price
Driven by the iPhone, Apple’s flamboyant growth prospects would inevitably be reflected in the evolution of its share price, according to Bank of America. Thanks to AI, the stock would take off and could show +23% by the end of 2024 to exceed $200.
Riding the AI wave would guarantee Apple to reach new stock market heights over the coming years and consolidate its status as a leading technology stock. The next generation of Apple products would mark the start of a new golden age driven by AI innovation.
Driven by AI, the major innovations expected on the next iPhones in 2024 could trigger a powerful renewal cycle. If this scenario is confirmed, Apple’s growth would be turbo-boosted, driving the stock 23% higher by the end of 2024 according to Bank of America. AI would then assert itself as the fuel that will propel Apple’s growth over the coming years.
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