Bank of America Reiterates Buy on Apple Inc. (AAPL), Citing Growth in Silicon Technology and Services Expansion

Insider Monkey11-14 15:05

We recently compiled a list of the 10 AI Headlines Making Waves Today. In this article, we are going to take a look at where Apple Inc. (NASDAQ:AAPL) stands against the other AI stocks that are making...

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(AAPL), Citing Growth in Silicon Technology and Services Expansion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-14 15:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bank-america-reiterates-buy-apple-070540483.html><strong>Insider Monkey</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>We recently compiled a list of the 10 AI Headlines Making Waves Today. In this article, we are going to take a look at where Apple Inc. (NASDAQ:AAPL) stands against the other AI stocks that are making...</p>\n\n<a href=\"https://finance.yahoo.com/news/bank-america-reiterates-buy-apple-070540483.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1989772840.SGD","symbol_name":"CPR Invest - Climate Action A2 Acc SGD-H","start_time":0,"source_url":"https://finance.yahoo.com/news/bank-america-reiterates-buy-apple-070540483.html","article_id":"2483844013","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/fTPNobtT0bdcSxj2xXAamw--~B/aD04MTY7dz0xNDU2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/insidermonkey.com/bd47dc2e86b4a3086f845d200d9daf1f"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483844013","pubTimestamp":1731567940,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"We recently compiled a list of the 10 AI Headlines Making Waves Today.In this article, we are going to take a look at where Apple Inc.  stands against the other AI stocks that are making waves.According to the \"Hyperscale Data Centers - Global Strategic Business Report\", the global market for hyperscale data centers is estimated to reach US$730.2 Billion by 2030, growing at a CAGR of 23.1% from 2023 to 2030. From the increasing adoption of cloud services to the rise of big data and artificial intelligence, several factors are at play when it comes to its rapid growth. 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(NASDAQ:AAPL) stands against the other AI stocks that are making waves.\nAccording to the \"Hyperscale Data Centers - Global Strategic Business Report\", the global market for hyperscale data centers is estimated to reach US$730.2 Billion by 2030, growing at a CAGR of 23.1% from 2023 to 2030. From the increasing adoption of cloud services to the rise of big data and artificial intelligence, several factors are at play when it comes to its rapid growth. As per the report, the biggest driver is cloud computing, with more and more companies migrating their workloads to the cloud to reduce costs, improve scalability, and enhance flexibility.\nREAD ALSO: 10 Trending AI Stocks on Latest Analyst Ratings and News and 8 Best Information Technology Services Stocks to Invest in Now\nThese hyperscalers need a lot of energy to run their data centers around the clock. According to McKinsey & Company, data center power needs are expected to grow three times higher than the current capacity by the end of the decade, from between 3 and 4 percent of total US power demand today to between 11 and 12 percent in 2030. Naturally, the power sector has become a significant AI player. Several technology companies are looking at nuclear power, including the use of small modular reactors (SMR), to meet their electricity needs.\n\n“Driven by recent trends in AI development, projected power consumption by data centers in the U.S. is expected to increase in the range from 8% to 17% by 2030—or potentially even higher, as progress in AI technologies is not linear but exponential, as seen in Silicon Valley today”.\n-Energy expert Maksim Sonin\n\nRecent AI News \nAs the demand for advanced computing power grows, the latest AI breakthroughs are reshaping industries and driving innovation at an unprecedented pace. Then again, nothing is perfect. A few days back, OpenAI’s premier chatbot, ChatGPT, went down for a total of 30 minutes. According to an outage tracking website Downdetector, over 19,000 people were impacted due to the chatbot’s unavailability. Sam Altman, the CEO, admitted to the outage on X and apologized.\nThe same company is said to be hitting stumbling blocks recently. That’s because, according to Bloomberg, its latest model Orion hasn’t been performing as well as the developers had hoped for. OpenAI, however, isn’t the only company seemingly facing a plateau. Three leading AI companies are now seeing diminishing returns from their costly efforts to build newer models.\nIn other news, search habits are changing across the globe now that artificial intelligence is here. According to research from Yext, a digital presence platform for multi-location brands, 45% of customers are likely to use and trust an AI tool for finding more information about a brand, while 51% now use social media, and 28% turn to voice assistants.\n\n“Google impressions have dropped 8-20% in the past two years, pushing marketers to adapt as search behaviour shifts with AI-driven overviews, chatbots and social media searches. Instagram and TikTok have become favoured alternative search engines, particularly for younger consumers”.\n- Anthony Rinaldi, senior director of insights at Yext.\n\nFor this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.\nWhy are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).\n A wide view of an Apple store, showing the range of products the company offers. \nApple Inc. (NASDAQ:AAPL)\nMarket Capitalization: $3.39 trillion\nApple Inc. (NASDAQ:AAPL) designs, manufactures, and markets smartphones, tablets, PCs, wearables, and accessories worldwide. It is a key AI player due to AI investments, offerings, and now Apple Intelligence.\nA major analyst call for Apple Inc. (NASDAQ:AAPL) came on Tuesday, November 12, from Bank of America Securities. The firm says it is sticking with its buy rating on the stock as it is confident in the company’s future prospects, particularly its silicon technology and expansion in the services segment.\n\n“We maintain Buy on Apple given margin expansion from silicon roadmap and growth in Services, with rev for Mac expected to increase +8% y/y in C24”.\n-Bank of America Securities\n\nOverall AAPL ranks 1st on our list of AI stocks that are making waves today. While we acknowledge the potential of AAPL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than AAPL but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.   \nREAD NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.   \nDisclosure: None. This article is originally published at Insider Monkey.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483844013"}