Apple, the technology giant, has been predicted to be the leader in generating profits from artificial intelligence (AI) by hedge fund manager Steve Eisman. In an interview with CNBC, Eisman emphasized that AI applications will benefit Apple the most due to its ability to incorporate them into all its products.
Eisman highlighted that as AI applications become more consumer-friendly, there will be a demand for new devices like iPhones, iPads, and laptops. He emphasized the need for patience as these applications take time to develop. Despite Apple’s recent struggles in the stock market, Eisman’s positive outlook on the company’s AI potential comes at a crucial time.
Apple has faced stiff competition and regulatory issues, leading to a drop in market share and stock performance. However, there are still optimistic voices on Wall Street, with Bernstein recently upgrading its recommendation on Apple stock to positive. This led to a significant increase in Apple’s stock value, reflecting a belief in the company’s future growth potential.
In addition to the potential of AI, Apple’s recent financial results and strategic moves, like share buybacks and pricing adjustments in key markets like China, have shown positive signs for the company’s performance. There are also reports of Apple engaging with AI models from companies like OpenAI and Google, indicating a move towards integrating AI features into its devices in the near future.
While challenges remain for Apple, particularly in the competitive tech landscape
