escalating AI advancements in tech industry forecast Apple shares surge 30% following iPhone event announcement
Tonight, Apple is holding a product event at its headquarters in Cupertino, with the focus on unveiling its latest product innovations. The star of the event is expected to be the company's flagship product, the iPhone.
According to analyst Dan Ives from Wedbush, the integration of Artificial Intelligence (AI) in the new iPhone 16 could drive a significant increase in iPhone shipments. Ives predicts that around 20% of global consumers will access and interact with generative AI apps through the Apple ecosystem over the next few years, with the iPhone 16 marking the beginning of this trend.
Ives' optimism is not unfounded. He believes that the launch of the iPhone 16 will open a new wave of AI users worldwide. In fact, he predicts that Apple could sell more than 240 million iPhones in fiscal 2025 if the AI-driven upgrade cycle takes hold.
One analyst, Dan Ives of Wedbush, is particularly optimistic about the event. He has predicted a 30% increase in Apple's stock price due to strong demand for the iPhone 15 Ultra and supply constraints, which has led to record iPhone sales. His price target for Apple stock is $285, representing a 30% upside from current levels.
It's worth noting that the CEO and majority shareholder of the publisher Boersenmedien AG, Mr. Bernd Foerstsch, holds positions in Apple that could benefit from the potential price development resulting from the publication. Similarly, the CEO of the publisher, Mr. Leon Mueller, also holds positions in Apple.
According to Seeking Alpha, this prediction was made in a recent note. Dan Ives is a renowned expert in tech stocks, and his predictions have proven accurate in the past.
In summary, Apple's product event promises to unveil a new era of AI integration in its products, particularly in the iPhone 16. With analysts predicting booming sales and a rise in Apple's stock price, the event is shaping up to be a significant moment in the tech industry.
