Apple Intelligence hasn’t hit the market yet, but when it finally does, the company could make a lot of money with a “smarter Siri,” according to an analyst at BofA Securities.
Apple launched its iPhone 16 on Sept. 9 at its Glowtime event, but the phone reached stores on Sept. 20 without GenAI capabilities.
That has left Wall Street with a lot of questions, like whether iPhone demand will improve once Apple Intelligence becomes available?
BofA Securities analyst Wamsi Mohan is looking ahead to not only how AI is going to alter the way Siri works, but how the tech company can make money from the changes.
He wrote in a research note Friday that the company will use Siri as a virtual assistant that is capable of performing tasks for users like booking a ride, ordering dinner, or scheduling a meeting.
“This all begs the question, who will Siri recommend or even book on behalf of the user? Our answer is whoever pays to be presented first to either Siri or the user,” Mohan wrote.
“We estimate that deep Siri integration with apps could drive $3bn in revenues in 2026 and could approach ~50bn in a decade,” Mohan wrote.
MacDailyNews Note: Mohan rates Apple stock as a “Buy” with a $256 price target.
Interns: Cold medicine, please! We all have raging rhinoviruses to close out the week. You know why. Goodnight!
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