by OpenAI this week underscored the speed at which artificial intelligence is developing and also the undeniable usefulness of new AI applications. BofA Securities analyst Wamsi Mohan discussed related investment opportunities, with a focus on Apple Inc., which he rates a buy.
Mr. Mohan expects that Apple will dominate “AI at the edge’ or the use of AI in mobile devices, along with Samsung. This will prove another growth driver for a company already wealthy enough to announce a US$110-billion stock buyback. The availability of AI on new model iPhones may result in a much bigger upgrade cycle.
Mr. Mohan forecasts much higher demand for random access memory no matter what happens. The largest providers of RAM are South Korea’s Samsung and SK Hynix Inc. and also Micron Technologies. In the latter case, the stock is already up over 50 per cent since mid-February this year.