Apple Reiterated Outperform at BofA as AI Push Set to Begin
Bank of America reiterated its Outperform rating on Apple on Wednesday as the tech giant gets closer to unveiling its generative artificial intelligence strategy at next month's developer conference.Shares were little changed in premarket trading.The latest iPhones with AI should drive a "multi-year" upgrade cycle, similar to what was seen at the beginning of the smartphone revolution, analyst Wamsi Mohan wrote. Mohan, who also has a $230 price target on Apple, said he expects the adoption curv