00:00It's Benzinga bringing Wall Street to Main Street
00:02Apple could become one of the biggest financial beneficiaries of consumer AI without building
00:06the world's best AI model, according to Yorkville's Dan Ives.
00:09He says Apple's advantage is its more than 2.5 billion active devices, which could turn
00:14Apple intelligence into a new services growth engine.
00:17Ives estimates AI-influenced revenue could eventually account for more than 15 percent
00:21of services revenue.
00:22He values Apple's AI vision and monetization opportunity at roughly $75 per share, supporting
00:28his $400 price target.
00:30Ives also points to nearly 375 million iPhones that have not been upgraded in more than four
00:35years and expects the new iPhone Duo to help drive a broader hardware cycle.
00:39Investors should watch whether Apple can turn AI into recurring services revenue by capitalizing
00:44on its role in bringing AI to consumers.
00:46For all things money, visit Benzinga.com.
