Apple’s focus on AI ‘clearly visible’ – BofA
During the week, analysts at Bank of America (NYSE:BAC) Securities reiterated a Buy rating and a $230 price target.
The move came after Apple (NASDAQ:AAPL) held its much-awaited iPad event, which, according to BofA, showed that the tech giant’s focus on AI is “clearly visible.”
Analysts said Apple continues to impress with its hardware, particularly with its innovations in silicon technology, introducing the new M4 chip in the iPad Pro.
The advanced Neural Engine within the M4 chip enables “AI-enabled functionality,” such as isolating subjects from backgrounds in 4K video with Apple’s Final Cut Pro.
It also allows the detection of documents, uses AI to rearrange frames, and removes shadows in images. Furthermore, new features in iPadOS offer enhancements like visual look-up, live text, and subject lift.
“No change to our estimates or price objective. Maintain Buy on beneficiary of GenAI at the edge, with GM upside and momentum in services,” BofA wrote.
Baird upgrades Micron stock to Buy
Baird analysts shared the latest takeaways from their research on the semiconductor industry earlier in the week.
The most significant change is their upgrade in the rating of Micron (NASDAQ:MU), moving the stock from Neutral to Outperform.
