Citi analyst Atif Malik moved Apple (AAPL) to the firm’s top artificial intelligence pick into 2025. The firm keeps a Buy rating on the shares with a $255 price target. Citi is “ok” with the recent CFO transition and views it as a planned succession. And while it is tough to speculate on the Google versus Justice Department antitrust case outcome, Citi sees it as priced-in and views the Safari browser as a value add, the analyst tells investors in a research note. In addition, developer feedback on iOS18 beta artificial intelligence features, including the recently launched new photo feature to remove unwanted objects, points to AI as a “compelling upgrade for iPhone refresh next year,” contends the firm. It expects the iPhone 16 “It’s Glowtime” product launch on September 9 to further highlight the AI phone experience. Citi moved Apple to its top AI pick above Nvidia (NVDA) and Arista Networks (ANET) going into 2025.
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