Apple Set to Benefit from Collaboration with Meta: Stock Soars Following Report
Tech & AI | June 24, 2024, 12:53 p.m.
Meta Platforms, the IBD Stock of the Day, is inching towards a buy point following reports of potential AI model collaboration with Apple. As Meta stock climbs, the Wall Street Journal reported talks about integrating Meta's AI models into Apple's new intelligence products, expanding AI options for users and boosting Meta's AI efforts. Despite concerns from its first quarter report, which highlighted potential costs of Meta's AI push, Wall Street analysts remain optimistic as Meta gears up for its second quarter report. With a Composite Rating of 99 and a strong Relative Strength Rating, Meta stock appears poised for growth. A partnership with Apple could provide a significant boost, as Apple also explores collaborations with other AI companies. As Meta stock approaches a cup-with-handle buy point, investors eagerly await Meta's next moves in the AI landscape.