An AI-driven investment manager says it sees Apple (AAPL) rallying to even greater heights even after hitting a new all-time high yesterday.
In a new CNBC interview, Intelligent Alpha founder Doug Clinton says the firm’s AI models continue to favor AAPL, believing that its surge to blue skies is not yet over.
According to Clinton, fears about Apple’s ability to compete against AI giants like Microsoft, Google and OpenAI are no longer on investors’ radar. He also cites the stronger-than-expected performance of iPhone 17.
“I think it could probably go higher. Our models at Intelligent Alpha continue to own Apple. So our models continue to think that Apple can go higher. And the reason is, to your point, I think this sentiment was just completely bottomed out.
If you go back to mid-summer, the narrative around Apple was that they were nowhere in AI. They had no hope of ever launching a product, even one that would sort of compete with GPT or Gemini. And I think that fear has completely washed away. We rarely even hear investors talk about AI and Apple anymore. Now it’s about iPhone 17, which has been, I think, a much better launch than most investors had expected.”
Looking ahead, Clinton says the next iPhone cycle could propel AAPL to prices never before seen if Siri gets an AI integration.
“I think next year could be an even bigger cycle for a few reasons. One is getting back to that AI story. If they figure out how to make Siri a competent AI assistant, I think that you could see the iPhone 18 cycle be even better than the iPhone 17 cycle, because users will hear about a Siri that finally works. They might have an older phone that they’re ready to upgrade.”
AAPL exploded to a fresh record-high of $265 yesterday, before slightly retracing and ending the trading day at $262.
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