1 Incredibly Cheap Tech Stock That Could Soar 50% Thanks to Apple's Generative AI Move

Apple (NASDAQ: AAPL) recently jumped into the fast-growing market for smartphones capable of running generative artificial intelligence (AI) applications. Even though the latest iPhone models won't get the company's Apple Intelligence suite of features until October, the demand for its latest devices seems to be good.JPMorgan analysts point out that the delivery time delays of Apple's new iPhones are expanding, which is a sign of healthy demand for these smartphones. Meanwhile, Dan Ives of Wedbush Securities said he believes that Apple could sell 90 million units of its new smartphones in 2024. That's up 8 million to 10 million units when compared to last year's release.T-Mobile CEO Mike Sievert goes a step further, saying that the demand for iPhone 16 models is better than it was last year. All of this indicates that Apple could strike gold with its latest smartphones, and that won't be surprising as the market for generative AI smartphones is forecast to clock a compound annual growth rate (CAGR) of 78% through 2028, according to IDC.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool