JPMorgan sees AI-enabled iPhones creating a 5G-like refresh, boosting Apple stock

News Snapshot:

What will it take to get Apple stock and iPhone sales out of their slumps? Wall Street analysts and the Club see artificial intelligence as a key driver of investor enthusiasm and the next upgrade cycle. JPMorgan said in a note Thursday that an expected AI-enabled iPhone will create strong demand similar to what was seen when Apple put 5G capabilities into the iPhone 12 in October 2020. Customers who wanted faster next-generation mobile connectivity at the time were forced to upgrade — which boosted Apple's revenue and profits and eventually the stock. As we know, stronger company fundamentals can...