Bank of America on Wednesday renewed its buy recommendation and $230 price target on Apple, the day after Alphabet (Google) presented its new AI functionalities.
The analyst, who points out that rumors have been circulating for several months about the possibility of Apple signing a licensing agreement with Google to use its Gemini AI assistant, stresses that Apple's choice remains uncertain for the time being, as OpenAI's tools also seem to be holding sway.
In any case, BofA expects Apple to be one of the major beneficiaries of the emergence of generative AI.
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Apple Inc. specializes in the design, manufacture and marketing of computer hardware and music supports. Net sales break down by family of products and services as follows:
- telephone products (52.1%): iPhone brand;
- peripheral devices (10.5%): screens, storage systems, printers, video camera, memory cards, server, switches, etc.;
- computers (10.2%): laptops (MacBook, MacBook Air and MacBook Pro brands) and PCs (iMac, Mac mini, Mac Pro and Xserve);
- music support (7.4%): music readers iPod and iPad and accessories;
- other (19.8%): software, maintenance service and Internet access service, etc.
Net sales are distributed geographically as follows: Americas (42.4%), China/Hong Kong/Taiwan (18.9%), Japan (6.3%), Asia/Pacific (7.7%) and Europe/India/Middle East/Africa (24.7%).
APPLE INC. 
