Wedbush analyst Dan Ives believes Apple is on the brink of an AI supercycle that will make it the dominant player in consumer AI. Ives says Apple's massive installed base of over 2.2 billion iOS devices and control over the App Store gives it a strong position in consumer AI. At WWDC, Apple unveiled several new AI-powered features that analysts believe will drive a large upgrade cycle this year. Ives says AI will be delivered to consumers through Apple, and the company will act as a gatekeeper for AI technology on consumer devices. Ives believes Apple's position in consumer AI could see Tim Cook share the "Godfather of AI" title with Nvidia's Jensen Huang. Ives has a $300 price target for Apple stock and thinks the company could become a $4 trillion market cap company as more firms partner with it on AI.
