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Apple named among ‘catch-up’ AI winners for the second half
Monday July 8, 2024. 11:14 PM , from Mac Daily News
AI laggards — Apple, Advanced Micro Devices, and Intel, for three high-profile examples – are going to shine the second half of this year according to Melius Research.
Adam Clark for Barron’s: In the first six months, the big beneficiaries of the AI boom were Nvidia, Broadcom, and a few other chip makers because of major tech companies pledging to spend more on AI infrastructure. That rate of investment could slow as the year wears on, according to analyst Ben Reitzes. The pullback, though, might not be a sign of the AI bubble bursting, but rather a trigger to rotate into other tech names. That includes AMD, Apple, and Intel, Reitzes wrote in a research note. “Once again, we are believers in a ‘catch-up’ trade for some in semis [semiconductors], hardware and even software — those with lower expectation,” he said… Apple has risen steadily since announcing its AI strategy last month. Reitzes thinks there is more to come with its coming iPhone launch, which he has previously suggested could lead to a “supercycle” with growth in revenue generated from the smartphone of about 20% for up to two years. Reitzes has a Buy rating and $260 target price on Apple stock. Support MacDailyNews at no extra cost to you by using this link to shop at Amazon. MacDailyNews Take: Vroom, vroom! Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you! Support MacDailyNews at no extra cost to you by using this link to shop at Amazon. The post Apple named among ‘catch-up’ AI winners for the second half appeared first on MacDailyNews.
https://macdailynews.com/2024/07/08/apple-named-among-catch-up-ai-winners-for-the-second-half/
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