In India, Apple’s yearly sales reached a record of around $8 billion, or roughly 66,400 crore. Underscoring a quickly expanding market where the business assembles more of its products and runs two flagship locations, Bloomberg News reported on Monday.
Morgan Stanley named Apple one of its top picks, citing the tech giant’s artificial intelligence (AI) platform rollout as the reason behind a record-breaking consumer rush to replace PCs, tablets, and smartphones.
Analyst Erik Woodring raised his price target for the company’s stock to $273, citing the possibility that Apple Intelligence will lead to a record number of device updates.
According to Morgan Stanley’s Woodring, Apple is expected to sell about 500 million iPhones in the upcoming two years, surpassing the record cycle in 2021–2022.
Senior vice president Craig Federighi introduced Apple’s Al suite of services at the Worldwide Developers Conference in June, characterizing it as “Al for the rest of us.”
Woodring, who rates the company as overweight, stated, “We believe that there is record level of pent-up demand entering the iPhone 16 cycle later this year.” “Coming out of WWDC where Apple debuted Apple Intelligence we have even greater convic- tion that FY25 could be the start of a multi-year device refresh cycle.”
It is anticipated by Woodring that Apple Intelligence will “deliver much improved, and unique-to-the-Apple- ecosystem utility value” for over 1.3 billion people.
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