Apple named top AI pick at Citi as iPhone refresh awaits
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1 month ago
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- Apple (NASDAQ:AAPL) was in the spotlight on Thursday as Citi named the tech giant as its top artificial intelligence-related stock pick going into 2025, ahead of Nvidia (NVDA) and Arista Networks (ANET).
- Shares were up 1.2% in premarket trading.
- Analysts at the firm said early developer feedback on iOS 18 beta AI features have been positive, including the recently launched feature to remove unwanted objects with AI, which should provide consumers with a “compelling” reason to upgrade their iPhones. Additionally, the recent transition to Kevan Parekh as the company’s new CFO and the Dept. of Justice case against Google (GOOG) (GOOGL) should not be of too much concern to investors, the analysts added.
- Apple is slated to hold its annual fall product event on Sept. 9, where it is widely expected to announce the new iPhone, along with new versions of the Apple Watch, AirPods and more.