Apple Inc. (NASDAQ:AAPL): Apple could extend its search deal with Alphabet with image AI search

 


In the past several days, speculations have been circulating around the possibility that Apple will deploy the Gemini AI model from Alphabet (NASDAQ:GOOGL) in its iPhone 16. In our view, Apple could be interested in AI functions, such as "Circle to Search", as it could generate additional advertising revenue for both Alphabet and Apple. "Circle to Search", is already being used in the latest Android-based Samsung S24 model. Currently, Alphabet pays Apple 36% of its search advertising revenue from Safari.

The stock is trading in correction territory, under $179.66, due to sales weakness in China, regulatory pressures and perception that the company is falling behind in AI. Without big fanfare, Apple has already incorporated several AI functions in many of its products. The stock could bounce off from here as leaks begin to emerge about iPhone 16 with AI features, but be aware that its 200-day EMA may be about to cross over the 50-day EMA.

This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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