Apple Inc. (NASDAQ:AAPL) is one of the Must-Watch AI Stocks on Wall Street. On July 29, Barclays said it remains cautious on Apple, maintaining its “Underweight” rating. The analyst highlighted factors such as limited traction on artificial intelligence and risks around tariffs, China, and regulation.
The firm said that it anticipates “a slight June-Q beat led by better FX, iPhone and Mac upside,” helped by tariff-related pull-in. It isn’t very optimistic on the stock due to a lack of progress.
“We still see no major progress on AI for AAPL.”
Particularly discussing Apple’s innovations at the annual developer conference, the firm said that the conference “underwhelmed with the AI feature announcements, viewing them as more evolutionary than revolutionary.”
It further added that “The reception of Apple Intelligence has also been disappointing.”
The firm believes Apple’s long-term AI strategy remains muddy and that its light weight approach to AI may or may not be enough to drive an upgrade cycle or growth.
Barclays also talked about tariffs, stating that “2H GM remains a wildcard with lack of clarity on tariffs and mitigation efforts.”
Apple is a technology company known for its consumer electronics, software, and services.
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