35 AI Superstars According to Goldman Sachs

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4. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 184 

Apple Inc. (NASDAQ:AAPL) is a consumer electronics firm. Citi analyst Atif Malik recently released a research note on the firm, maintaining a Buy rating on the stock with a price target of $265. Malik cut the iPhone unit forecasts in the September and December quarters by 2 million each and now expects iPhone 16 units to be 83 million this year. He also increased the March and June 2025 quarter iPhone unit estimates up by 4 million and 7 million, respectively. Citi now expects 2024 and 2025 iPhone units to be 224 million and 246 million, respectively, or down 3% and 9% on a year-over-year basis. With Apple Intelligence to be released in the US later in October and a major Siri update likely next year, the iPhone refresh will happen in 2025 with the iPhone 17 launch, the analyst told investors in the research note.

Latest reports indicate that Apple Inc. (NASDAQ:AAPL) has successfully defended itself against patent infringement claims concerning user verification and data security technology placed into iPhones. According to a report by news publication Bloomberg, the Austin federal jury for the US District Court of the Western District of Texas determined that the US tech giant did not infringe four asserted patents by placing tech for Face ID, Touch ID, and passcode security features into iPhone smartphones.

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