Apple hits new all-time intraday high as analyst expects 10% iPhone sales growth on Apple Intelligence

Apple shares hit a new all-time intraday high in Tuesday trading of $205.45, surging 6%, after announcing Appel Intelligence at WWDC on Monday.

Apple’s announcement of a partnership with OpenAI to integrate ChatGPT with Siri generated mixed reactions. While some investors remained cautious, others, like D.A. Davidson Managing Director Gil Luria, see it as a game-changer for Apple.

Luria, interviewed on The Morning Brief, expressed bullishness about the news and believes it will significantly boost iPhone sales. He cites Apple’s expected iPhone growth of only 5% next year as too low and raises his own estimate to 10%. He compares this to the higher growth of the iPhone 12 launch, suggesting the AI integration will be a compelling reason for consumers to upgrade to the iPhone 16.

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