Top Analyst Moves in Artificial Intelligence (AI) This Week: Apple, Micron, ServiceNow, Palantir, and Roblox

Investing.com — This week saw some major analyst moves in the field of artificial intelligence (AI) that are worth noting. Here are the highlights:

Apple’s focus on AI was deemed “clearly visible” by analysts at Bank of America Securities, who reiterated a Buy rating and a $230 price target for the tech giant. The unveiling of the new M4 chip in the iPad Pro, equipped with an advanced Neural Engine for AI-enabled functionality, impressed analysts. Apple’s continued innovation in hardware and software, particularly in AI, has positioned the company as a beneficiary of GenAI at the edge.

Baird analysts upgraded Micron stock from Neutral to Outperform, citing significant upside potential for the memory chipmaker in powering demanding AI models. With DRAM prices exceeding expectations and a shift towards high-bandwidth memory (HBM), Micron is poised for a new supercycle with potential for high gross margins.

ServiceNow’s financial analyst day in Las Vegas garnered positive reactions from analysts, with RBC Capital expressing optimism about the company’s generative AI functionality and potential for growth. ServiceNow is seen as one of the best positioned companies to monetize GenAI, making it a top pick for analysts.

Palantir Technologies raised its annual guidance but fell short of Wall Street’s projections, leading to a decline in its shares. Citi Research maintained a cautious stance on the AI software company, citing solid Q1 results but highlighting weaker collections and operating cash flow. Despite raising the price target to $25, Citi maintained a Neutral rating on Palantir.

Roblox, a video game developer, reported mixed first-quarter results, causing a sharp decline in its shares. Benchmark analysts, however, remain optimistic about the company’s revenue growth potential driven by cost controls and the introduction of advertising on its platform. Roblox’s use of AI to enhance platform safety, moderation tools, and developer support makes it a standout in the AI-driven environment.

Overall, the AI sector continues to see significant developments and opportunities for growth, with companies like Apple, Micron, ServiceNow, Palantir, and Roblox at the forefront of innovation in AI technology. Investors and analysts are closely monitoring these companies for their potential in the AI market.