Apple Stock Upgraded to Buy with $260 Price Target, Driven by Privacy-Focused AI Initiatives

Rosenblatt analyst Barton Crockett has upgraded Apple stock from Neutral to Buy and increased its price target to $260 per share. The upgrade is driven by Apple's privacy-focused AI initiatives and the analyst's view that these initiatives position Apple well versus competitors in the AI space. Consumer surveys cited in the analyst's note found that privacy is the top feature consumers want from AI assistants. The analyst also cites Apple's in-house silicon design as providing an advantage over competitors who rely on third-party chips.