12 AI Stocks Every Investor Should Be Watching

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4. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 159

Apple Inc. (NASDAQ:AAPL) is one of the 12 AI Stocks Every Investor is Watching. On June 13, Morgan Stanley reiterated the stock as “Overweight” with a $235 price target. The investment bank said that its Apple checks demonstrate how iPhone and iPad estimates are tracking ahead. The firm also said the iPhone and iPad sell-through in China are “positively surprising.”

The “deep” 618 Festival channel promotions in China have been successful in driving upside to both iPhone and iPad sell-through in the June quarter. The firm now sees an estimated 3 M units of upside to its June quarter iPhone shipments forecast and an estimated 2.5 M units of upside to June quarter iPad shipments or $4 B revenue upside, all else equal.

The analyst added how September quarter builds are tracking in line to slightly better. This implies that “Apple (AAPL) could catch a short-term bid.”

“Furthermore, despite trending below normal seasonality, preliminary September qtr iPhone/iPad builds point to in-line to slightly better than expected September qtr iPhone/iPad shipments.”

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