Melius Research's Ben Reitzes is one of the biggest Apple bulls on Wall Street but he wants to see progress on major issues, including artificial intelligence.
Apple stock is drifting and even the bulls are getting worried. At its upcoming fourth-quarter-earnings report, the iPhone maker needs to show it can make progress on several major concerns, according to Melius Research analyst Ben Reitzes.
Apple has an uphill task in delivering growth for the December quarter as it faces headwinds due to a strong dollar, and the period being one week shorter than the year-ago quarter, according to Reitzes. However, he still forecasts 4% revenue growth. “If China’s government succeeds in denying Apple phones the ability to download western apps, the differentiation of the iPhone in the region may be damaged long term,” Reitzes wrote.
“Within two years we believe investors will be able to see how AI drives an upgrade cycle for iOS devices and new services from Apple,” he wrote.
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