03:50 PM EDT, 04/11/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Shares are up 4%, partly reflecting a Bloomberg report citing AAPL is looking to revamp its entire Mac line-up with its next generation M4 processors (M3 launched late last year), in an effort, we believe, to offer on-device AI. We view this as a positive development as it could offer upside to pricing and revenue within Macs, as the M3 injected a minimal performance boost. We think the news also suggests that AAPL is poised to unveil a slew of AI tools to developers at its WWDC this June. In our view, AAPL is looking to generate higher revenue by injecting new on-device AI capabilities across iPhones and other higher-end devices to spur consumers to pay up this fall. Separately, AAPL is set to refresh its entire iPad line-up this year, which has not happened since the fall of CY 2022. Although we acknowledge China concerns, we think AAPL will navigate the storm and we see AI giving consumers across its massive installed base a reason to upgrade. AAPL's pullback offers an enticing opportunity, in our view.