5 big analyst AI moves: Bullish on memory names; Apple and Cisco downgraded
Analysts have made notable moves regarding artificial intelligence (AI) stocks in recent weeks. Jefferies downgraded Apple, reducing its price target and CAGR for iPhone ASP, citing supply-chain issues and the cancellation of an all-glass iPhone model. Edison Lee noted foldable iPhones as the primary driver of higher ASP and margin.
KB Securities praised Samsung Electronics and SK Hynix as undervalued, projecting substantial re-rating potential based on their operating profit growth and market capitalization. New Street Research upgraded Micron to Buy, citing a unique memory cycle and strong cash reserves, projecting significant growth in free cash flow beyond 2030.
HSBC downgraded Cisco, reducing its price target and citing the lack of a near-term catalyst despite strong fourth-quarter results.
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