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Artificial intelligence (AI) helped many tech leaders improve their businesses.Nvidiasaw surging demand for its GPUs (Graphics Processing Units),Meta Platformsused the technology to increase engagement on its apps through algorithms, and the hyperscalers --Amazon,Alphabet, andMicrosoft-- launched a variety of AI services they offer through the cloud.
Meanwhile, many thought thatApple(NASDAQ: AAPL)was lagging its similarly sized tech peers in capitalizing on AI, but as the industry shifts toward agentic AI -- or systems that can autonomously plan and execute tasks -- could it become a tailwind for Apple? Missed Nvidia in 2009? This Rare Signal Is Flashing Again.In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia.Continue » Wall Street is starting to recognize Apple's potential in theAI industry, with several analysts expressing bullish sentiment.For instance,Wamsi Mohan, an analyst atBank of America, recently increased his price target for the stock to $380, up from $330.
The reason: Apple could be a winner of the shift to agentic AI.
Mohan thinks that the iPhone maker could generate between $15 billion and $30 billion in AI-related revenue by the fiscal year 2030.Note that this is not that much revenue by Apple's standards, which generates over $400 billion in annual sales.
However, provided agentic AI reaches the heights some expect -- Nvidia's CEO Jensen Huang predicted we will eventually have billions of AI agents -- it could be just the beginning for Apple.
It's worth noting that Apple isn't typically the first to market with new technologies.
The company takes its time, keeps things close to the vest, and finds ways to introduce its own spin on existing tech to generate significant excitement and make plenty of money.
There is a long list of Apple products that demonstrate this trend.
For instance, Apple did not create earphones, but its AirPods introduced an innovative twist on the established model and became highly popular.
Even Apple's most famous product, the iPhone, is an example, and perhaps the best.
Smartphones existed before Apple launched the first generation of its iPhone, but the company's device was a reinvention that proved highly popular and a veritable trendsetter.
We can still see the results of that revolution today, as Apple's iPhone segment remains the largest by revenue.
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