Annice Lyn
- Apple (NASDAQ:AAPL) shares ticked up 0.5% in premarket trading as Citi said the launch of the tech giant’s iOS 18.2 update was “in line” with its expectations, with the biggest attraction still to come.
- “In iOS 18.2 simple things Siri should be able to do are being outsourced to ChatGPT,” Citi analyst Atif Malik wrote in a note to clients. “No change in our view that a staggered rollout of Apple Intelligence features makes IP16/17 refresh cycle different from prior cycles.” Malik maintained his Buy rating and $255 price target on Apple.
- There were several updates included in iOS 18.2, including ChatGPT’s now integration into Siri; Writing Tools; Image Playground; Visual Intelligence; Genmoji; Image Wand; and Apple Intelligence now being available in six countries, including Canada, Australia, and the U.K.
- Looking ahead, Malik said he is “optimistic” about the iPhone 17 update and expects unit forecasts for 2024, 2025 and 2025 to be 227M, 246M and 253M, respectively.