Apple stands apart from other tech firms working on artificial intelligence by focusing on user privacy. That stance earned Apple stock an analyst’s buy rating this week.
Patrick Seitz for Investor’s Business Daily:
Apple’s privacy position on AI should resonate with consumers, Rosenblatt Securities analyst Barton Crockett said in a client note.
“Strong privacy is by far the top feature consumers want in AI, based on our recent U.S. survey, arguing for market share lift potential for Apple in AI, based on the unique privacy focus of Apple Intelligence, to date unmatched by Android,” Crockett said.
Crockett upgraded Apple stock to buy from neutral. He also raised his price target to $260 from $196.
Apple’s privacy-focused approach to AI contrasts with missteps from rivals, such as Microsoft’s (MSFT) much-criticized Recall feature for AI PCs. Recall takes screenshots of nearly everything people do on their PCs. The Recall feature is now on hold.
Also, Apple rejected a deal to use Meta Platforms’ Llama AI chatbot because the social media company’s privacy practices weren’t stringent enough…
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MacDailyNews Take: Only Apple can deliver AI while maintaining user privacy.
For a company like Apple, generative AI is not tremendously difficult; it’s what it’s fed that’s most important, followed by where it’s done: on-device-only (high privacy), cloud-only (encrypted, hopefully), or some mix of the two.
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