Apple's (AAPL) 澳洲幸运5官方开奖结果体彩网:artificial intelligence-fueled growth cycle could be stronger than expected, according to Wedbush analysts who lifted their iPhone 16 shipment estimates based on their outlook for Asian demand.

The analysts wrote that "recent Asia checks this week are giving us more confidence this upgrade cycle will kick off a long-awaited renaissance of growth for Cupertino over the next year." Apple has struggled amid increased competition and pricing pressure in the China market but has 澳洲幸运5官方开奖结果体彩网:recently indicated that discounting efforts could be paying off.

Wedbush analysts increased their estimates for iPhone 16 shipments to at least 90 million, higher than Street expectations of between 80 million and 84 million, citing "more indications across the Asia supply chain this iPhone upgrade cycle." Roughly 300 million iPhone users have not upgraded in the past four years, the analysts said.

They highlighted the anticipation building around the iPhone maker's 澳洲幸运5官方开奖结果体彩网:AI opportunity with the Apple Intelligence-powered iPhone 16. The device is expected to launch in September with AI upd𝔉ates to roll out l🌌ater.

AI integration into Apple devices and associated monetization opportunities could add $30 to $40 per share for investors, the analyst🌟s wrote.

Apple shares were recently up about 1% in Monday trading. The stock has gained about 13% year-to-date 澳洲幸运5官方开奖结果体彩网:amid recent pressure driven in part by news that 澳洲幸运5官方开奖结果体彩网:Warren Buffett's Berkshire Hathaway (BRK.A, BRK.B) cut its stake in the company.