Dan Ives of Wedbush Securities said it’s clear Apple is incapable of producing its own AI in-house, despite a company culture that strives to build superior products internally. In recent days, some of Apple’s top AI talent has also been poached by increasingly aggressive AI talent recruiter Meta, Bloomberg reported.

Apple Inc. (NASDAQ:AAPL) is one of the AI Stocks Making Waves on Wall Street. On July 9, Wedbush reiterated its “Outperform” rating on the stock and maintained its price target at $270.00. The rating affirmation reflects continued confidence in Apple’s potential.

Dan Ives, a well-known technology analyst at Wedbush Securities, stated that Apple is in advanced talks to acquire Perplexity, an AI-powered search engine startup backed by investors such as Nvidia and Jeff Bezos. He estimates the potential deal to be around $1.4 billion.

Wedbush said Perplexity is the "no brainer" deal to help launch Apple's ( NASDAQ: AAPL) AI strategy. The firm has an Outperform rating and $270 price target on Apple's stock.

Wedbush's Dan Ives said Apple should consider buying Perplexity and its AI search engine if it wants to catch up to its peers in the AI race.

Craig Moffett disagrees that the answer to Apple stock problems lies in hiring a new chief executive. Find out more.

Apple Inc. (NASDAQ:AAPL) should acquire Perplexity AI Inc. to strengthen its artificial intelligence offerings, according to Wedbush analyst Daniel Ives, who called the potential acquisition a "no brainer.

Apple is reportedly eyeing Perplexity AI in a move that could transform its AI future, supercharge Siri, and signal a shift in search dominance.