TLDR: Morgan Stanley analyst Erik Woodring believes that Apple has a growth opportunity in the AI space, specifically through its efforts to integrate artificial intelligence capabilities into its iPhones. Woodring suggests that Apple may launch an “AI iPhone” as early as Fall 2024, which could significantly increase the speed at which iPhones answer AI-oriented questions. This could potentially drive sales and revenue growth for the company. Woodring advises investors to buy the stock before the potential launch of the AI iPhone. The analyst gives Apple shares a $220 price target, implying an 18% upside potential.
