Apple Dips as Jefferies Says Hopes for AI Phone Are Overblown.

Apple Inc. shares dropped by over 1% after a Jefferies analyst expressed skepticism about the company's latest iPhones, which are equipped with artificial intelligence (AI) tools. The analyst stated that the high market expectations for the new iPhones are unlikely to be met due to a lack of significant new features and limited AI coverage. While the analyst recognized Apple's potential in AI in the long term, they believe that the current valuation is high and that AI will not be a driving force in the near future. Wall Street analysts are generally more cautious about Apple compared to other major tech companies. [Extracted from the article]