Renowned investor Steve Eisman, known for his role in “The Big Short,” has identified Apple Inc. as a major player in the artificial intelligence market. He believes that Apple’s AI strategy will lead to significant gains for the company. Eisman, who currently serves as a senior portfolio manager at Neuberger Berman, expressed his views during a recent CNBC segment. He highlighted Apple as the “hidden AI play” and emphasized the potential for substantial growth driven by the company’s AI strategy.
Eisman sees Apple as a key beneficiary in the AI boom, alongside companies like NVIDIA Corp., Advanced Micro Devices, and cloud companies with extensive databases. Despite Apple being often overlooked in AI discussions, Eisman believes the company could see significant benefits once AI-based applications become mainstream. He mentioned that Apple’s entire product line could experience a refresh with the introduction of AI-based apps, leading to increased demand for Apple devices such as iPhones, iPads, and laptops.
While Eisman acknowledged that developing AI-based applications will take time, he expects a significant update cycle once they become available. He emphasized the importance of patience in this process. Analysts have also highlighted the potential impact of AI advances on institutional ownership of Apple’s iPhone, with an anticipated increase of 23.5%.
Apple’s AI strategy has been a topic of interest in recent debates, with the company unveiling a new AI model that outperformed OpenAI’s GPT-4 despite being lighter and faster. However, Apple faces challenges in the AI space from competitors like OpenAI and Alphabet Inc. Apple’s AI strategy is viewed as a key factor in its potential “growth renaissance,” with a potential partnership with OpenAI seen as a crucial event for the company.
The upcoming WWDC is expected to be a significant moment for Apple, with its AI reveal touted as the biggest event for the company in the last decade. Overall, Apple’s focus on AI and the development of AI-based applications could lead to substantial growth opportunities for the company in the future.
In summary, investor Steve Eisman believes that Apple’s AI strategy will result in significant gains for the company, positioning it as a major player in the artificial intelligence market. Despite facing competition in the AI space, Apple’s potential partnership with OpenAI and its upcoming AI reveal at WWDC are seen as key events that could drive growth for the company. Analysts also anticipate an increase in institutional ownership of Apple’s iPhone due to advancements in AI technology. Overall, Apple’s focus on AI and the development of AI-based applications are expected to drive future growth and innovation in the company’s product line.
Article Source
https://www.benzinga.com/markets/equities/24/05/38956589/big-short-fame-investor-picks-nvidia-and-amd-as-most-obvious-ai-investment-opportunities-but-thi