09:36 AM EDT, 05/30/2024 (MT Newswires) -- Apple's ( AAPL ) upcoming artificial intelligence-enabled products will drive further acceleration in revenue growth, cash flow and shareholder value gains, Tigress Financial Partners said in a note to clients late Wednesday.

The iPhone maker will soon highlight new business applications for its Vision Pro spatial computer. More than 50% of Fortune 100 companies have already purchased the computers and are integrating them into their corporate processes, according to the note.

The company also recently introduced thinner, higher-resolution iPad models with more advanced AI-capable chips, marking the first significant update to the tablets since 2018, Tigress Financial Partners said.

Apple ( AAPL ) is "experiencing renewed growth momentum" as it announced a 52% increase in iPhone sales in China following recent declines, it added.

"The introduction of new generative AI functionality across all of its key product lines will drive a reacceleration of growth and further gains in subscription services" after investing "massive amounts" in AI-related research and development," Tigress Financial Partners said.

Tigress Financial Partners reiterated its strong buy rating on Apple ( AAPL ) and boosted its price target to $245 from $240.

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