tl;dr
Bank of America analysts, led by Wamsi Mohan, suggested that Apple may be close to striking a deal with a major tech company to integrate cloud-based artificial intelligence into the iPhone. However, the financial implications of such a deal are being closely scrutinized. Key questions that remain u...
Bank of America analysts, led by Wamsi Mohan, suggested that Apple may be close to striking a deal with a major tech company to integrate cloud-based artificial intelligence into the iPhone. However, the financial implications of such a deal are being closely scrutinized. Key questions that remain unanswered include whether Apple will opt for Microsoft-backed OpenAI and its ChatGPT technology, Google, or possibly both. The analysts are keen to understand the economic terms of the potential partnership and whether Apple will need to modify its existing arrangements. Despite these considerations, Mohan maintained a Buy rating and set a $230 price target for Apple. An additional point of concern for Apple is the scrutiny surrounding Google's agreement to be the default search provider on iPhones, which has drawn attention as a focal point in the Justice Department's antitrust lawsuit against Google. Notably, both OpenAI and Google recently hosted events centered on artificial intelligence, while Apple is expected to feature AI prominently at its upcoming developer conference next month. Following these developments, Apple's shares experienced a 1.3% increase in late morning trading on Wednesday.
More about Apple Inc
Apple Inc. is an American multinational technology company that specializes in consumer electronics, computer software, and online services. It is the world's largest technology company by revenue, totaling $274.5 billion in 2020. Since January 2021, it has been the world's most valuable company. As of 2021, Apple is the world's fourth-largest PC vendor by unit sales and the fourth-largest smartphone manufacturer. It is one of the Big Five American information technology companies, along with Amazon, Google, Microsoft, and Facebook.
Industry: Technology
Segments: Electronic, Computers
Revenue: 287.4 billion
Market Cap: 29.15
EPS: 0.96
P/E Ratio: 6.43
ROE: 24.54%
Dividend Yield: 0.263%
Shares Outstanding: 3.82 billion
Public Float: 202.36 million
Beta: 0.007
Volatility: -0.043
More about Microsoft Corporation
Microsoft Corporation is an American multinational technology company which produces computer software, consumer electronics, personal computers, and related services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers. Microsoft ranked No. 21 in the 2020 Fortune 500 rankings of the largest United States corporations by total revenue; it was the world's largest software maker by revenue as of 2016. It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Amazon, and Facebook.
Industry: Technology
Sector: Services-Prepackaged Software
Market Cap: 309.6 billion
P/E Ratio: 36.1
EPS: 2.93
Dividend Yield: 11.54%
52-Week High/Low: 31.83 / 0.364
Shares Outstanding: 236,583,993,000
Price: 472.39
Change: 0.2
Change %: 0.17
More about Alphabet Inc Class C
Alphabet Inc Class C Summary Alphabet Inc. is an American multinational conglomerate headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries.
The two co-founders of Google remained as controlling shareholders, board members, and employees at Alphabet. Alphabet is the world's fourth-largest technology company by revenue and one of the world's most valuable companies.
Sector: TECHNOLOGY
Services: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
Market Cap: $210.01 billion
PE Ratio: 26.37
Dividend Yield (%): None
Beta: 6.52
Current Price: $25.37
50-Day Moving Average: 0.259
Market Cap (intraday): $318.15 billion
Price to Sales Ratio (TTM): 184.5
Price to Book (MRQ): 0.609
Profit Margin (%): 0.154
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