Apple Stock Receives “Buy” Rating Amid OpenAI’s ChatGPT Launch On macOS

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As a researcher, I am excited about the recent developments at Apple Inc. (AAPL). The upgraded “Buy” rating for its stock from Rosenblatt Securities is a significant boost, driven mainly by Apple’s focus on privacy-focused AI features through the Apple Intelligence platform. This shift towards consumer privacy is a strategic move that sets Apple apart from competitors and could attract more users to its AI products.

On June 26, Rosenblatt Securities raised their recommendation for Apple Inc. (AAPL) shares to “Buy.” The revision stems from Apple’s initiatives to enhance privacy with AI technology, primarily through the Apple Intelligence platform. This development has sparked heightened interest and resulted in a notable surge in pre-market trading activity for Apple stock, fueled by OpenAI’s ChatGPT integration on macOS.

Rosenblatt Upgrades Apple Stock Rating

According to Rosenblatt Securities’ analysis, Apple has the potential to expand its presence in the burgeoning AI market by prioritizing consumer privacy concerns. This perspective is further validated by a recent survey conducted by the firm, indicating that privacy is the top priority for American consumers when utilizing AI technology.

As a crypto investor, I’ve come across an intriguing survey result. With over 500 respondents, this particular study employed a “MaxDiff” ranking method to assess the significance of 15 essential features for early smartphone AI. Among these, privacy stood out as the most preferred, with a positive response rate of 17.8%. This figure represents a substantial lead of 5.6% over the second-highest ranked feature, insight.

Apple’s target price was raised by Rosenblatt to an impressive $260 from the previous $190. Similarly, Dan Ives of Wedbush expressed optimism, predicting a potential rally up to $300 – representing a significant 43% increase from the current price.

As a researcher, I’d say: At the time of this writing, Apple’s stock price rose by 1.03% to hit $211.22 during the pre-market trading on Wednesday, based on Yahoo Finance reports. In contrast, the stock had ended the previous day, Tuesday, with a closing price of $209.07, registering a gain of 0.45%.

Apple sets itself apart from competitors by placing a strong emphasis on privacy. This commitment to user data protection not only enhances its reputation but also encourages more individuals to utilize its AI offerings. By leading the charge in consumer privacy, Apple aspires to secure a dominant position in this area.

OpenAI’s ChatGPT Launches On macOS

In a recent development, Apple unveiled the incorporation of OpenAI’s chatbot, ChatGPT, into macOS. This addition is intended to enhance user experience by granting seamless access to artificial intelligence assistance across all Apple devices. However, this decision sparked controversy on social media, with Tesla CEO Elon Musk leading the opposition. He went as far as threatening to prohibit Apple products from being used in his offices.

Expert: Apple’s highly praised privacy feature raised eyebrows from Musk, who expressed concerns that user data could be exposed through ChatGPT to OpenAI. However, in spite of the ensuing debate, OpenAI publicly announced on their X social media platform that the ChatGPT desktop application for macOS is now accessible to all users.

Mac users can now quickly summon ChatGPT for email discussions, screenshot explanations, or assistance with any on-screen item using the shortcut key combination of Option + Space. This new feature, once installed, grants you expedited access to ChatGPT’s capabilities, enhancing productivity and convenience.

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2024-06-26 15:28