Apple May Finally Catch Up In AI: Analyst Sees Big Upside From Perplexity Deal, Smarter Siri, Google Search Rivalry

BofA Securities analyst Wamsi Mohan maintained a Buy rating on Apple Inc AAPL with a price target of $235 on Tuesday.The rerating reflected strong capital returns, AI leadership and optionality from new products or markets.Mohan said media articles indicated Apple’s plans to either acquire or forge a partnership with Perplexity AI, which has an answer engine that delivers direct, cited responses to search queries using third-party LLMs.Also Read: Alibaba Updates LLMs To Power AI On Apple Devices In ChinaAs ...