According to Bank of America (BofA), Apple shares are a "top pick". BofA predicts that this year Apple has 4 future catalysts for improving earnings, including the launch of the iPhone 16 with artificial intelligence. This was reported by UNN with reference to Businessinsider.
Details
Bank of America (BofA) Securities has selected Apple (AAPL) as one of its Top Picks for 2024 amid expectations of improved service revenue and progress in artificial intelligence.
Bank of America analyst Wasmi Mohan has identified four potential catalysts that could boost Apple's stock price from now until the end of the year:
First, Mohan said that he expects Apple to increase the return on equity for shareholders when the company reports its second fiscal quarter results. This could come in the form of a dividend increase, an expanded share buyback program, or both.
Secondly, Mohan expects Apple to make a series of AI-related announcements at its upcoming WWDC software developer conference in June 2024.
Third, in 2024, Apple will release an AI-enabled iPhone 16 that will offer generative AI capabilities on the device. This should help accelerate the company's revenue growth.
Fourth. BofA's representative believes that Apple's profits have significant potential due to the fact that the company develops chips in-house, reducing component costs and reducing its dependence on public cloud providers. The Apple Services business also expects significant revenue growth from licensing, the App Store, iCloud, and subscription offerings such as Apple TV+ and Apple Music.
Recall
Apple has removed the WhatsApp and Threads messaging apps from the Chinese App Store after being ordered to do so by the Chinese authorities.
Ціна на біткоїн не зазнала значних змін попри халвінг23.04.24, 12:28