Steve Eisman, a well-known Wall Street fund manager and the real-life protagonist of The Big Short, has expressed a strongly positive outlook on Apple’s potential in artificial intelligence (AI). In an interview with CNBC on June 13, Eisman emphasized that Apple plays a crucial role in the AI story and advised investors to hold Apple stocks continuously.
Eisman explained that Apple has been secretly preparing how to utilize AI technology, with part of these plans being revealed at the recent Worldwide Developers Conference (WWDC). He predicted that Apple’s AI services would infiltrate everyday life, positively impacting Apple’s stock price.
In particular, Eisman argued that Apple’s AI will expand beyond the AI cloud, and people will start using AI on their smartphones. He stressed, “If artificial intelligence is not limited to the cloud, people will use it on their phones.” He noted that consumers are likely to upgrade their iPhones and other devices according to product update cycles, although the scale of these updates is still unclear. This prediction will bring significant economic benefits when combined with Apple’s powerful hardware ecosystem.
Identifying AI and infrastructure as the two most dominant trends in the current market, Eisman advised that if you have Apple in your portfolio, you should never let it go and continue to hold it. This advice is based on his belief that Apple will play a key role in the future AI ecosystem.
Apple ended the day with a 0.5% increase from the previous day, trading at $214.24. It reclaimed the top spot in market capitalization for the first time in about five months, surpassing Microsoft. This reflects the market’s expectation that Apple will continue to grow in AI and cloud technology.
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