Two prominent analysts, Gene Munster and Dan Ives, have expressed differing opinions on the possibility of Apple Inc. AAPL venturing into the realm of personal home robots.
What Happened: On Friday, Munster, the managing partner at Deepwater Asset Management, suggested that Apple's reported foray into the realm of personalized robots would be a logical step for the tech giant. However, he believes the likelihood of a product launch in the next five years is slim to none.
“I 100% agree that it makes sense for Apple to have a small skunkworks project exploring a deeper dive into home automation. That said, I put the probability that we see a product in the next 5 years at slim to none,” Munster said, adding, “As a reminder, Apple works on a lot of things that never see the light of day.”
On the other hand, Wedbush analyst Ives stated that the market wants Apple to concentrate on enhancing its AI capabilities and not delve into robotics. On Thursday, Ives shared a video clip from CNBC Last Call, in which he called the idea of Apple investing in robots a “horror show.”
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“It would be a horror show if they actually spent money on robots,” Ives said giving example of Project Titan that Apple has reportedly cancelled. He added, “They need to focus on AI. For [Tim] Cook, his legacy is gonna be AI. If they went after robots, that would be a black eye moment for Apple.”
See Also: Apple Abandons Electric Car Project To Focus On Generative AI
Why It Matters: Earlier this week, it was reported that Apple’s engineers are leading two innovative projects: one involves a mobile robot designed to assist users within their homes, while the other features a sophisticated tabletop device equipped with a robotic arm for adjusting display positions.
Apple’s potential entry into the home robotics market comes after the company shifted its focus from its electric vehicle project to new breakthroughs. In February, it was reported that despite working on an electric vehicle for years, the Tim Cook-led company has pumped the brakes on its Apple Car ambitions
Meanwhile, the Cupertino-based tech giant has been making significant strides in the AI space, with the recent unveiling of its new AI model, ReALM, which outperforms OpenAI’s GPT-4. This development aligns with Munster’s previous prediction that Apple’s WWDC 2024 event will be a “generative AI launch party.”
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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