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Jefferies downgraded Apple stock from Buy to Hold, citing inflated expectations for AI-enabled iPhones. Analyst Edison Lee expressed that current smartphone hardware is not advanced enough to support the high-tech AI features anticipated by consumers. He believes that serious AI capabilities in smartphones are still two to three years away.
Despite Apple's recent unveiling of its AI tools, called Apple Intelligence, the initial demand for the iPhone 16 has disappointed analysts. Many consumers are more interested in connectivity improvements rather than AI features, indicating a potential gap in market expectations. However, Lee maintains that Apple is well-positioned to lead the AI smartphone market in the future.
• Jefferies downgrades Apple stock due to AI smartphone expectations.
• Apple's iPhone 16 demand is weaker than previous launches.
The article discusses how current hardware limitations hinder the full realization of these AI features.
This initiative aims to integrate AI into Apple's ecosystem, although initial consumer interest appears limited.
The article highlights the race among tech companies to innovate in generative AI technologies.
Apple's recent focus on AI tools aims to enhance its smartphone capabilities and market position.
OpenAI's partnership with Apple is mentioned as part of Apple's strategy to integrate AI into its products.
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
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Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
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