Tech Daily Report

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

  • 📰 Moneyweb
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 77%

Technology Technology Headlines News

'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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in TECHNOLOGY

Technology Technology Latest News, Technology Technology Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple Intelligence: tech giant to set out its AI plansApple’s developer conference on Monday will show whether it can become a major player in the burgeoning field of AI.
Source: TechCentral - 🏆 8. / 71 Read more »