Apple Inc. (NASDAQ:AAPL) is one of the Best Big Company Stocks to Buy Right Now.
On June 1, Morgan Stanley analyst Erik Woodring reiterated an “Overweight” rating and a price objective of $330
The analyst believes that a successful AI strategy can help unlock a higher valuation for the company’s stock. Apple Inc. (NASDAQ:AAPL)’s recent strength was backed by its products and services business instead of AI. That being said, companies tagged as AI winners were often credited with increased valuations over the previous 2 years, and the analyst opines that Apple Inc. (NASDAQ:AAPL) can be seen as one of them soon.
Contrary to its rivals, Apple Inc. (NASDAQ:AAPL) is not shelling out significantly on building AI infrastructure. Instead of doing this, the company could leverage its significant base of iPhone, iPad, and Mac users in a bid to bring new AI features to consumers. The analyst opines that this can help Apple Inc. (NASDAQ:AAPL) in growing the AI offerings without the high costs that are being faced by its competitors.