Apple Inc. is poised to usher in a new era of consumer artificial intelligence (AI) with the imminent release of its highly anticipated Apple Intelligence system, according to leading analyst Dan Ives from Wedbush Securities. In a recent forecast shared on X, Ives predicted that the launch of Apple Intelligence 18.1, scheduled for the next day, will mark a significant turning point for the company’s trajectory. He also highlighted the forthcoming 18.2 version expected in December.
Ives emphasized that skeptics who have underestimated Apple’s remarkable rise, surpassing $1 trillion in market capitalization, have failed to consider three crucial factors: the size of the installed base and pent-up demand for iPhone upgrades, the growth and valuation of Apple’s services, and the emerging role of AI in consumer technology.
“We believe bears and long-time Apple naysayers have miscalculated three important dynamics of the Apple story,” Ives wrote. He further expressed confidence in a strong performance for the iPhone in the September quarter and a promising December guidance.
This prediction comes in the wake of recent events that have shaped Apple’s AI narrative. Just last week, a Rosenblatt analyst expressed concerns about a declining trend in smartphone upgrade rates, casting doubt on the AI-driven super cycle. However, Ives’ forecast presents a different outlook for Apple, aligning with the high expectations surrounding the Apple Intelligence system.
The Apple Intelligence system is the result of the company’s utilization of prompt engineering to enhance accuracy and prevent hallucinations within its AI suite. Additionally, a Goldman Sachs analyst has forecasted stronger-than-expected fourth-quarter results for Apple Inc., ahead of its October 31 release.
Apple Inc. closed at $231.41 on Friday, reflecting a 0.36% gain for the day. In after-hours trading, the stock dipped 0.24%. Year to date, Apple’s stock has experienced significant growth, rising by 24.66%, according to data from Benzinga Pro.