09:05 AM EDT, 06/07/2024 (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:

AAPL will hold its much anticipated annual Developers Conference (WWDC) on June 10, where all eyes will be on AI initiatives. It is widely believed that AAPL will announce a deal with OpenAI to integrate ChatGPT into iOS 18 (new AI features will likely be an opt-in service). This is expected to make Siri much smarter, with the ability to chat and integrate AI across its ecosystem - editing photos, Safari web search, summarization of articles/meeting notes, easier coding, delete/send emails, AI-emojis, etc. However, integration within 3rd party apps is more likely a 2025/2026 story, which could disappoint some and will keep it from being an ultimate personal assistant. GenAI enhancements will likely include both cloud-based and on-device upgrades, with AAPL to emphasize greater privacy as a key differentiator to competitors. Given an aging installed base of iPhone 12 and older users, the shift to AI provides greater incentive for consumers to upgrade to the iPhone 16 and potentially pay a higher price point.