Apple’s (AAPL) AI Roadmap Strengthens With Google Deal, Says Evercore

Apple Inc. (NASDAQ:AAPL) is one of the Hot AI Stocks to Keep on Your Radar. On January 12, Evercore ISI analyst Amit Daryanani reiterated an Outperform rating on the stock with a $330.00 price target. Firm analysts highlight Apple’s new AI partnership with Google Gemini, citing monetization upside and custom AI experiences ahead.

The firm noted how Apple has confirmed entering into a multi-year agreement with Google for its next generation of AI models, a move that will help power the long-awaited Siri 2.0 upgrade.

A joint statement has revealed that Apple’s foundation models and cloud technology will be based on Google’s Gemini models. These models have received positive feedback since Gemini 3.0 launched last year.  The firm anticipates the upgrade to be announced in coming months.

“In addition, the statement noted: ‘After careful evaluation, Apple determined Google’s AI technology provides the most capable foundation for Apple Foundation Models.’ The statement did not include a price tag, but prior reports indicated that Apple would be paying ~$1B a year to license the ~1.2T parameter model. “

Evercore ISI believes that this Apple-Google partnership offers the best of both worlds for Apple, allowing it to upgrade its current model stack and paving way for potential monetization. Following this AI partnership announcement, investors should brace themselves for an Apple Intelligence 2.0 announcement coupled with a more custom and personal Siri experience in the upcoming months.

Apple is a technology company known for its consumer electronics, software, and services.

While we acknowledge the risk and potential of AAPL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AAPL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 11 AI Stocks on the Market’s Radar and 10 Trending AI Stocks on Wall Street

Disclosure: None.