Bank of America on Wednesday renewed its buy recommendation and $230 price target on Apple, the day after Alphabet (Google) presented its new AI functionalities.

The analyst, who points out that rumors have been circulating for several months about the possibility of Apple signing a licensing agreement with Google to use its Gemini AI assistant, stresses that Apple's choice remains uncertain for the time being, as OpenAI's tools also seem to be holding sway.

In any case, BofA expects Apple to be one of the major beneficiaries of the emergence of generative AI.

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