According to research firm Canalys, 8.8 million AI-capable PCs were shipped during the second quarter of 2024. Of these shipments, Apple’s (AAPL) Mac made up 60% of the total, while Microsoft’s (MSFT) Windows systems accounted for 39%. Canalys defines AI-capable PCs as those with specialized chipsets designed to handle AI tasks right on the device.
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Ishan Dutt, a principal analyst at Canalys, pointed out that AI-capable PCs got a big boost this quarter, especially with the launch of Copilot+ PCs using Qualcomm’s (QCOM) Snapdragon X series chips. Intel (INTC) also ramped up its delivery of Core Ultra chipsets, which demonstrate a strong performance in AI PC products. Meanwhile, AMD (AMD) launched its Ryzen AI 300 series notebook processors in June.
Interestingly, Windows PCs priced over $800 saw a 9% jump in shipments, with AI-capable models in that range spiking by 126%. This points to a trend that is likely to continue with the next Windows upgrade cycle.
Canalys predicts that 44 million AI-capable PCs will ship in 2024, and this number could more than double to 103 million units by 2025. Unsurprisingly, Apple is set to stay on top, especially with Apple Intelligence rolling out soon.
Is AAPL a Buy or Sell?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 24 Buys, seven Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 24% rally in its share price over the past year, the average AAPL price target of $248.78 per share implies 12.79% upside potential.
