The new iPhones this time are the first models equipped with AI capabilities, but analyst Edison Lee said that the high expectations for iPhone 16 and iPhone 17 are unrealistic. Due to the lack of substantial innovative features and limited AI applications, the market's expectations for sales growth (5%-10%) may not be achieved, so he gave a Hold rating, compared with the previous Buy rating.
Although Apple shares have risen 36% since the April low, and many are optimistic that AI capabilities will push users to upgrade their phones, bringing revenue growth to Apple, early signs suggest that market demand is not as strong as expected.
Lee believes that although Apple has potential in the field of AI in the long run, especially as it is the only software and hardware integration player who can provide low-cost and personalized AI services with its own data, he also pointed out that Apple's current valuation is "on the high side" and AI will not be the main driver of growth in the short term.
He also mentioned that the smartphone's hardware needs to be improved to truly support powerful AI capabilities, which may not happen until 2026 or 2027.
Compared with other big tech companies, Wall Street is more cautious about Apple. Only 65% of analysts recommend buying Apple stock, whileMicrosoft、NVIDIAAndAmazonThis proportion is close to or more than 90%.
