Apple Hits All Time Highs On AI

Apple (NASDAQ: AAPL) started the year poorly, but its stock has rebounded to match the S&P 500’s performance, up around 18%. This comeback is largely due to the announcement of AI and ChatGPT integration in the iPhone 16 at the June developers conference, as well as improving iPhone sales in China. Upcoming product launches in September and the earnings report in August will be critical in determining whether Apple’s stock continues to rise or stabilizes.

Which Stocks Will Be Next?

It’s not just Apple. Super Micro (Nasdaq: SMCI) and Nvidia (Nasdaq: NVDA) are hitting all time highs on AI momentum as well. Now investors all have the same question, which stocks are going to spike next?

Our top technology analyst recently published a 38 page research report titled “The Next NVIDIA” . In it, they answer that very question and reveal the top three AI stocks for new money today. You can access the report for free right now here. 

 

Transcript:

Apple, comeback story of the year.

Well, look, started out badly, stock drops.

It is now up the same amount as the S&P 500.

I don’t know today, but they’re both up around 18%.

Up 15%, 16%, yeah.

If you told me when that started to bottom after the news came out about slow sales and China and stuff that they could get, you know, back up to even with the S&P 500, I would have said no way.

So what happened?

AI, ChatGPT going into the 16. I mean, you know, they kind of pulled the proverbial trick.

Magic trick.

But I think that that was a lot of it. I really do. I think it was almost all of it.

If you look at the almost hockey stick in the stock, it was sort of after that June developers conference.

Right.

It’s funny. The stock did not move a lot that day after they’d announced that they were going to have all this AI stuff.

Of course, if you go back and look at those slides, videos, and the announcement, it’s not really clear. I mean, when I read this, like, what is it? You’re going to have to show it to me.

Pretty big, yeah.

It was really big. But then the stock, the two or three days after that, it took off, and I think it was a relief rally. It’s like, okay, they weren’t left completely…

Behind this.

And I think, you know, the commentary from Musk on you’re not going to use that on an on-site with us. I think that kind of tempered it initially before it started to roll.

Yeah, I think you’re right.

If you go back, though, another thing that helped them was that CounterPoint, the research firm, said in March that in the first six weeks, sales of the iPhone in China, which is the world’s largest smartphone market, were down 24%.

So down 24%, largest smartphone market in the world. The stock literally cratered on that news.

Now, two or three other research firms have come out more recently and said that April and May, iPhone sales are actually running up in China.

So they’re even with the S&P right now. Rest of the year, what gets you from being even to either way down or way up? What are the events that drive that?

Well, I mean, they’ll have products introduced in September, probably.

Does the 16 come out that early?

They come on and Cook shows it to you. So they should demonstrate new product, you know, all the other product. I mean, nobody cares about a watch update or an iPad update, but I mean, if they can do something real scintillating with the phone and then, and he can show how the AI works for the average iPhone user and the interface between human and phone and all that. I mean, that could be something that could keep the flow going.

I think it could be about the same by the end of the year, maybe up a little bit more, but it’s had a solid recovery, not unlike Tesla this year.

The other thing is I think earnings come out in about three weeks. I think that the earnings could be week-ish.

If they spend a lot of time on the conference call talking about the introduction of the new, I mean, it’s sort of that, the soft shoe that some CEOs know how to play after they pull out mediocre numbers.

It’s like, yeah, but it’s on the way.

So you and I will get together, I think it’s August 1st. So we’ll get together a day or two after that and-

Kind of massage those numbers and see what Cook had to say.

Yeah, and see if any of our theories are true.

Yeah, yeah.

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