Apple eyeing startup PrismML to bring massive AI models direct to iPhone
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Evercore ISI comments on Apple (AAPL) suing OpenAI
July 13, 2026 12:15 PM EDTEvercore ISI analyst Amit Daryanani reiterated an Outperform rating and $365.00 price target on Apple (NASDAQ: AAPL).
The analyst comments "Apple filed a federal complaint Friday against OpenAI, io Products and two former Apple employees (Tang Tan Chief Hardware Officer at Open AI; and Chang Liu, Member of Technical Staff at Open AI), alleging trade secret misappropriation. Apples allegation is that OpenAI is using ex-Apple employees and leadership to shortcut its push into consumer hardware by taking, soliciting and using Apple... More
