"The iPhone maker is working on a software development kit and related frameworks that will let outsiders build AI features based on the large language models that the company uses for Apple Intelligence, according to people with knowledge of the matter."

Read More Mark Gurman: An SDK for Apple AI will be a WWDC tentpole

"With Apple Intelligence execution offering an upside optionality for an acceleration of replacement cycles, we believe Apple will benefit from a multi-year iPhone refresh in the coming years." — Analyst Erik Woodring

Read More Morgan Stanley: The gap has narrowed, but Apple remains underowned