09:10 AM EDT, 05/13/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

According to an unconfirmed Bloomberg report, AAPL is closing in on a deal that would allow OpenAI to support new AI features for the company's iOS 18 platform, which it expects to unveil at WWDC in June (launch this fall). We believe Siri is poised to get its biggest-ever upgrade and could be marketed as potentially being the best personal assistant to consumers. We note that the report cites that no actual deal has been announced, while AAPL has also had conversations with GOOGL pertaining to its Gemini offering. Ultimately, we do believe that a partnership would significantly boost AAPL's AI capabilities, injecting excitement across its hardware, software, and services portfolio. Most importantly, we see a slew of new revenue streams that could occur (e.g., higher iPhone 16 revenue, subscriptions, licensing revenue, new apps, higher ad revenue, etc.) from a partnership while AAPL isn't pushed to spend aggressively to get AI right internally, unlike many other mega cap tech companies. WWDC is on 6/10.