Ghazal Ahmed
Wed, Jun 25, 2025, 12:43 AM 2 min read
In This Article:
Apple Inc. (NASDAQ:AAPL) is one of the 10 Trending AI Stocks on Wall Street Right Now. On June 24, Bank of America Securities analyst Wamsi Mohan maintained a “Buy” rating on the stock with a $235.00 price target. Mohan’s rating affirmation comes from Apple’s potential strategic moves in the artificial intelligence space.
In particular, there is a possibility of a deal with Perplexity AI, a company recognized for its advanced AI search and answering capabilities. The deal, if finalized, could enhance Apple’s AI offerings, which are currently under significant investor scrutiny.
According to Mohan, the Perplexity deal could help improve Siri and reduce reliance on Google as a default search engine, positioning Apple as a leader in AI at the edge, and also pave the way for new product and market opportunities.
An Apple store displaying the latest in consumer electronics, from smartphones to wearables.
“Perplexity AI could address some of key issues including quick access to a voice assistant (better than Siri) and could be a hedge to the risk of having Google as a default search engine”.
The acquisition or partnership with Perplexity AI could also provide Apple with access to top-tier AI talent and expertise. This could, in turn, allow for product synergies that could be monetized through hardware and services.
The firm did note risks such as integration challenges and impacts on existing partnerships. However, positive developments in AI initiatives are anticipated to boost Apple’s stock performance.
Apple is a technology company known for its consumer electronics, particularly the iPhones and MacBooks.
While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 AI Stocks in the Spotlight and 10 AI Stocks Getting Wall Street’s Attention.
Disclosure: None.
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