News: Here’s how Apple’s stock could transform from AI laggard into a big winner

Hardware providers like Apple are poised to become ‘key winners’ in the AI revolution, according to Bernstein

Bernstein began coverage of Apple’s stock with a price target of $290 and an outperform rating. Photo: Getty Images

Apple Inc. hasn’t been able to shake its reputation as an artificial-intelligence laggard, and as a result the stock is down 3% this year as many other technology stocks have soared. But to Bernstein analyst Mark Newman, there’s a massive opportunity for patient investors.

He initiated coverage of Apple’s stock AAPL with an outperform rating and a price target of $290 — because of AI, not in spite of it.

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Hardware providers like Apple are poised to become ‘key winners’ in the AI revolution, according to Bernstein

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