Dan Ives of Wedbush expressed optimism about Apple Inc. (AAPL) despite recent stock downturns. In a recent interview with Bloomberg Surveillance, Ives highlighted the tech giant’s potential in the AI race, suggesting that the current dip in Apple’s stock could be a prime buying opportunity rather than a sign of lasting trouble.
When asked if Apple is late to the AI race, Ives pointed out, “There’s 2.2 billion reasons why they are not too late.” He emphasized that the current situation presents a golden buying opportunity for investors rather than a structural negative for Apple.
Apple’s stock has been under pressure recently, with concerns over its performance in China and a recent fine by the European Commission. Jim Cramer of CNBC predicted a further 5% drop in Apple’s shares but advised investors to hold onto their stock. The company’s shares have already experienced a significant decline, reaching a four-month low.
Despite these setbacks, Ives maintains a positive outlook on Apple, viewing the current situation as an opportunity for investors. He previously stated that selling Apple stock ahead of the company’s advancements in AI would be a “historically wrong move.” His stance remains firm even as Apple’s iPhone sales in China have decreased, causing the company to fall to the fourth position among smartphone vendors in the region, as reported by Counterpoint Research.
Apple closed 0.071% lower at $169, according to Benzinga Pro. Overall, Ives’ optimism about Apple’s future prospects in the AI race and his belief in the long-term potential of the company stand in contrast to the recent stock downturns and challenges faced by the tech giant.
In conclusion, despite the current challenges faced by Apple, Dan Ives remains positive about the company’s future and sees the current situation as a buying opportunity for investors. As Apple continues to innovate and make advancements in AI, Ives believes that the company has significant growth potential ahead.
