Did Apple miss the AI wave? Fuck software, I am talking about hardware!
Unified memory for the win. There is an extremely high markup on their best-binned and biggest chips for Macs and SKUs with most RAM. And they are sold out for MONTHS.
This just adds to the core business. iPhone revenue is still enormous, the installed base is still growing, services revenue keeps hitting records.
I know everyone is gooning to Jensen but Apple is actually much better at making chips than Nvidia. Power matters and Apple is the best at power efficiency. They took Intel’s lunch. They built chips that completely changed the laptop market. No doubt they are looking to expand into the AI space.
The bull case is that the company with the best consumer hardware ecosystem in the world, arguably the best silicon team in the world, a $100B+ annual services business, and a product used by over a billion people is trading like it has no role in the future of AI.
3/17/28 400C