On February 2, 2024, Apple CEO Tim Cook arrived at the Apple Store in New York City to attend the launch event of Vision Pro headphones.
Angela Weiss | AFP | Getty Images
apple The company’s shares rose 4.3% to $175.04 on Thursday. This is Apple’s best day since May 5, 2023.
Apple’s share price rose as technology stocks, especially artificial intelligence stocks, performed strongly, with the Nasdaq index rising 1.77%.
Apple shares have fallen more than 5% so far this year. On Thursday, JPMorgan analysts wrote that hedge fund investor sentiment toward Apple stock is improving, in part due to the company’s recent share price declines.
Despite some negative trends in iPhone sales in China and recent reports of cancellations of projects such as its car production, JPMorgan analyst Samik Chatterjee said that after recent losses and With the potential to benefit from artificial intelligence, investors may feel more comfortable with its current valuation.
JPMorgan analysts predict that the iPhone sales cycle will be strong in 2026 due to upcoming artificial intelligence features. Apple CEO Tim Cook recently told investors to expect an artificial intelligence announcement later this year. This is expected to happen during Apple’s Worldwide Developers Conference event in June.
“Hedge fund investors are increasingly enthusiastic about the opportunity for an artificial intelligence upgrade cycle, but uncertainty remains over whether the upgrade cycle will begin with the iPhone 16 in September 2024 or the iPhone 17 in September 2025,” Chatterjee wrote.
In addition, Apple is also preparing to equip new Mac notebooks and desktop computers with the next-generation “M4 chip” that emphasizes artificial intelligence. Bloomberg reported on Thursday. Apple declined to comment on the report. The current generation of Apple chips is called M3.
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