Apple Is Going To Surprise Wall Street, Says Tom Lee, As iPhone Maker ‘Could Be Quietly Ready To Pounce On AI’
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As Wall Street has been rallying behind the iPhone maker, led by Tim Cook, to dive into the artificial intelligence (AI) race, Fundstrat’s Tom Lee says that Apple Inc. (NASDAQ:AAPL) could be ready to surprise investors.
Check out the current price of AAPL stock here.
What Happened: While a slew of opinions on Apple’s acquisition of Perplexity AI make rounds on mainstream media and among top Wall Street experts, Lee’s post on X highlights his belief in Apple’s enduring strength and strategic timing in the market.
He suggests that Apple is poised to make significant moves that could surprise investors.
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In a snippet of his conversation with CNBC, reshared on X, Lee says, “For me, Apple has been quietly ready to pounce on AI. But I don’t think they need to pay up for any of these models. So, I think Apple is going to surprise people.”
While Lee doesn’t specifically vouch for Apple’s acquisition of Perplexity AI, he seems confident that Cook to make a strategic move into AI.
Meanwhile, Lee’s peers Daniel Ives of Wedbush Securities and Jim Cramer have been urging the iPhone maker to acquire Peplexity.
According to Bloomberg Opinion’s U.S. technology columnist Dav Lee, Apple should continue its measured approach to building AI capabilities by hiring individual talent, rather than acquiring entire AI companies.
He highlights that large acquisitions might seem tempting to quickly enhance Siri and other AI tools, but it carries significant risks of cultural clashes, operational hurdles, and regulatory distractions.
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Why It Matters: Cramer, in a recent X post had reiterated his views that “If Apple buys Perplexity, we would have our winning bot and the stock would soar.”
Cramer also calls out Apple on its buyback program and said that “Continued buybacks will do nothing.” This comes as Apple spent the most on stock buybacks in 2024.
