In a recent interview with CNBC, Josh Brown highlighted Apple's potential in the artificial intelligence sector, despite its late entry into the field. He referred to Apple as a 'sleeping giant' that could leverage its vast consumer base of over 2 billion devices to offer premium AI features through iCloud+ subscriptions.
This strategy could provide Apple with a competitive advantage over other companies in the Magnificent 7, which have invested heavily in capital-intensive AI projects. Brown's optimistic outlook includes a price target of $400 for Apple shares, which would mark a significant increase from their current value.
He noted that the narrative around Apple is shifting as investors recognize its unique position in the AI landscape. Additionally, Brown mentioned the anticipated release of a foldable iPhone and improving sales in China as further catalysts for growth.
His views align with the broader consensus on Wall Street, where a majority of analysts maintain a positive outlook on Apple's stock, with a consensus price target of $316