Apple (NASDAQ: AAPL), the biggest stock in the world by market cap, unveiled on June 5 a new virtual reality (VR) headset at its Worldwide Developers Conference (WWDC) – its first major product in nearly a decade.
With its established reputation for innovation and consumer appeal, Apple’s foray into the metaverse market could generate significant buzz and attract fresh investor attention in the coming months.
In this context, Finbold tapped Microsoft Bing, which recently got equipped with groundbreaking artificial intelligence (AI) technology, to offer a prediction for Apple’s stock price for the end of 2023.
Bing AI’s prediction
First of all, Bing outlined a number of different factors that could impact AAPL’s price in the second half of 2023, including supply and demand, rising competition, regulatory challenges, macroeconomic conditions, and uncertain investor sentiment.
As for its prediction, Bing primarily relied on different analysts’ forecasts, citing sources such as Forbes, The Motley Fool, Earnerspark, Trading Education, and CrowdWisdomLive, among others.
“As you can see, there is a wide range of predictions for Apple stock price in December 2023, ranging from $180 to $264.75 per share. This shows how uncertain and volatile the stock market can be, and how difficult it is to make accurate and reliable forecasts.”– Microsoft Bing said in the response.
The median point of that forecast range is around $222, which implies a potential upside of more than 21% from Apple’s current share price.
For comparison, Finbold tapped Google Bard earlier this month to predict Apple’s stock price for the end of 2023. Alphabet’s (NASDAQ: GOOGL) own AI tool said it agrees with Goldman Sachs’s price target of $199, which is around 8.7% higher than the current price.
Apple stock price analysis
At the time of publication, Apple’s shares were trading at $179.58, down 0.7% on the day.
Over the past month, AAPL is up around 5%, while its year-to-date gains stand at more than 37.8%.
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