"Vision Pro remains an ultra-niche proof of concept with no commercial footprint to speak of, while Apple Intelligence is palpably behind the AI offerings of other companies. At least one of these needs to deliver in 2026."

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"While we acknowledge the company’s leadership in consumer hardware, ecosystem, and services, with a highly sticky value proposition, we believe much of this value is already well understood by investors." — Analyst Melissa Fairbanks

Read More Why Raymond James lowered its Apple rating