Top 20 Trending AI News And Analyst Ratings

2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 184 

Apple Inc. (NASDAQ:AAPL) is a consumer electronics firm. JPMorgan analyst Samik Chatterjee recently penned an investor note on the company, maintaining an Overweight rating on the stock with a price target of $265. In the note, Chatterjee highlighted that the iPhone 16 had been available to consumers for a little over a week and the launch was lacking early momentum for the high-end models when compared to prior cycles. Per the analyst, the difference in the lead times relative to prior years in the early weeks pointed to more muted momentum in early orders for the Pro models relative to original expectations. Chatterjee noted this was likely due to the unavailability of artificial intelligence capabilities, with consumers likely delaying purchases until the features were available and the value proposition was better understood.

JPMorgan thus moderated the near-term Apple Inc. (NASDAQ:AAPL) iPhone unit forecast. The advisory now expects aggregate iPhone volumes to track to 126 million in the second half of 2024 versus 130 million prior and 132 million a year ago. However, the analyst clarified that expectations for a robust AI cycle in the medium-term were unchanged, and the revision in near-term estimates only represented a modest push out from volumes to later in the cycle.