Apple stock is off to its worst start of the year since 1982, but could the iPhone

maker be an AI dark horse in 2024? It's Monday January 8th.

Welcome to the Tech Check Podcast.

I'm Dearder Bosa.

And I'm Mark Gilbert.

Morning, dearger.

Apple shares up today, but they fell every day last week to start 2024. Today we wanted to look at what's the

conceivable floor for those shares and is AID part of the conversation around

if the company is actually undervalued right now.

Right and there's sort of two discussions going on.

On one hand you could look at Apple as undervalued if you think that it hasn't benefited

and really hasn't talked about generative AI over the

last year. In fact we've noted in the past that Tim Cook like actively avoids saying

the words AI. He prefers to say machine learning and I take that almost as like confidence that they're thinking

about it and going to do something but then you look at the fundamentals right

that don't as of now incorporate generative AI and Apple didn't even grow last year and it was the

worst performer of the Magnificent 7 in 2023 with 40% which is nothing to

scoff at but in terms of those huge moves by the biggest mega cap tech

companies it was sort of at the bottom of the pile go back five years though and it is the clear

it in Microsoft are the clear best performers of that group, save maybe, and

NVIDIA.

So there's always debate around Apple.

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