Why this analyst think you should be long Apple stock into iPad event
After voicing bullish thoughts ahead of Apple’s last week’s earnings report, Lynx Equity Strategies analysts reiterated a positive outlook ahead of the company’s iPad event, scheduled for later today.) Silicon in generative AI applications. In the March quarter, Mac revenue increased by 4% year-over-year, outperforming the consensus expectation of a 5% decline.
Lynx analysts believe that during the iPad launch, Apple could begin outlining its AI strategy, offering an early glimpse before the Worldwide Developers Conference event. “As AAPL has given no indication that it plans to meaningfully ramp capex, we think key to its AI strategy could be to run AI applications on-device and off-cloud as much as possible,” said the analysts.
“We think the consensus has not appreciated the potential of the new iPad models, as seen in Fy24 revenue growth modeled negative 8% and the next year only up 5%.”
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