Apple(US:AAPL) Finboldยท2024-09-02 10:48Core Viewpoint - Apple stock has shown significant improvement in May 2024, driven by strong performance in China and the integration of artificial intelligence, with shares nearing all-time highs above $230 and potential to reach $300 by the end of 2024 [1][2]. Group 1: Stock Performance - In the first quarter of 2024, Apple was lagging behind other tech firms but has since gained momentum, with a year-to-date increase of 23.36% [1][4]. - The stock has recovered from an early August slump, rising 9.43% in the last 30 days, indicating strong upward momentum since May [4][6]. Group 2: Demand and Revenue Expectations - Apple has increased iPhone production by 10%, anticipating higher demand due to the upcoming AI iOS integration, which could significantly boost quarterly revenue [2]. - iPhone sales contribute over 50% of Apple's revenue, suggesting that a 10% increase in sales could lead to substantial revenue growth [2]. Group 3: Analyst Predictions - Analysts are optimistic about Apple's future, with predictions of major gains due to AI integration, including a price target of $300 by July 2024 [3]. - The anticipated AI upgrades are expected to initiate a new phase in the artificial intelligence supercycle, further enhancing growth potential [3]. Group 4: Market Conditions - External factors, such as the Federal Reserve's expected interest rate reductions, could positively impact the stock market and benefit Apple shares [2].