Investor Steve Eisman, famous for his role in “The Big Short,” believes that Apple is positioned to benefit greatly from the artificial intelligence boom. In an interview with CNBC’s “Fast Money,” Eisman, who is now a senior portfolio manager at Neuberger Berman, expressed his confidence in Apple’s potential in the AI space. He highlighted Nvidia, Advanced Micro Devices, and cloud companies with large databases as other ways to invest in AI innovation.
Eisman emphasized that AI-powered applications will drive a significant upgrade cycle for Apple products, such as iPhones, iPads, and laptops. He predicted that as more apps utilizing AI become available, consumers will be inclined to upgrade their devices to take full advantage of these advancements. While acknowledging that AI applications require time to develop, Eisman believes that the upgrade cycle for Apple products will accelerate once these technologies become more widespread.
Overall, Eisman sees Apple as a “hidden AI play” and believes that the company stands to benefit from the growing popularity of AI-powered applications. He advises investors to be patient as the development of AI technologies unfolds, as this will ultimately drive increased demand for Apple products.
In summary, Eisman’s bullish outlook on Apple’s potential in the AI space reflects a broader trend of increased investment and innovation in artificial intelligence technologies. As AI-powered applications continue to evolve and become more mainstream, companies like Apple are expected to see significant growth opportunities. Eisman’s perspective underscores the importance of staying abreast of technological advancements and their potential impacts on investment opportunities.
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https://www.cnbc.com/2024/05/21/apple-is-hidden-ai-play-ahead-of-nvidia-earnings-steve-eisman-.html
