Apple shares reached a record $348.15 on Tuesday following the announcement of a home hardware lineup. Apple shares then retreated to close at $341.27, up 0.09% for the day. Deepwater Asset Management's Gene Munster said the devices show Apple's "product velocity is increasing" but miss the larger artificial intelligence opportunity.
Apple introduced Home View, a $299 display with a 7-inch screen designed to connect home accessories, email and messaging. The broader ecosystem expansion includes a $299 Apple TV with a remote-finding feature. The expansion also includes a "Home Collection" of third-party accessories such as locks and cameras.
Munster estimated that Apple will sell around four million Home View devices. Munster projected that Home View will add $1.5 billion to Apple's expected $525 billion revenue for fiscal 2027. Munster characterized the gain as incremental and said the gain would add roughly 1% to Apple's total revenue.
Munster cautioned that Apple is overlooking the larger shift toward generative AI despite the hardware expansion. Munster argued on the Pressure Points podcast that consumers face too much difficulty integrating smart home devices. Munster said consumers are not quite ready for that integration but are ready for generative AI and specialized bots. Munster argued that personalized bots represent the biggest opportunity in consumer technology and that Home View misses that opportunity. Munster previously warned that Apple risks losing potential services revenue if consumers adopt competing AI workflows first. Munster cited Meta Platforms' Muse and Space Exploration Technologies' Grokbot at $20 a month as examples.
Apple's intraday stock record also coincided with reports of increasing demand for the upcoming foldable smartphone, the iPhone Duo. Apple reportedly increased supply chain orders for the device by 30%, raising initial supply estimates to 10 million units ahead of October 16 preorders.
Apple shares were 0.44% higher in premarket trading on Wednesday. Apple shares had risen 37.80% over the last year. Apple shares were up 25.35% year-to-date in 2026. Apple shares had gained 2.71% over the last month. Benzinga's Edge Stock Rankings indicate that AAPL maintains a strong short-, medium- and long-term price trend, with a moderate growth score.
Apple Shares Dip From Record Highs as Analyst Highlights Missed AI Opportunity
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Summary
Apple shares dipped from record highs, closing at $341.27 on October 14, 2026, after briefly hitting $348.15. Gene Munster of Deepwater Asset Management said the new home hardware lineup lacks a strong generative AI focus, despite faster product launches. He projected the Home View device could add $1.5 billion in 2027 revenue but called personalized AI bots a bigger opportunity. Munster also noted Apple has raised foldable iPhone Duo supply orders by 30%, with production now set for 10 million units. Activity in the digital asset market remains strong, with altcoins to watch gaining traction amid broader tech sector shifts.
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