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Apple’s $471bn rally hinges on whether AI event delivers

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'If Apple doesn’t come out with compelling reasons to upgrade, that’s a real problem,' said Greg Martin.

It’s the moment of truth for Apple’s artificial intelligence plans — and for the $471 billion rally that has rescued the stock from the doldrums.

The stock has soared almost 20% off an April low, returning above a $3 trillion market valuation and pulling within 1% of a record close hit last year. While some of the rally reflects a positive earnings report from early May, where Apple announced the largest buyback in US history, improving sentiment about AI has also been central to the bull case.

The multiple and lack of growth is why fewer than two-thirds of the analysts tracked by Bloomberg recommend buying the stock, a low ratio among megacaps.

Source: Tech Daily Report (techdailyreport.net)

 

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