Apple (AAPL, Financial) is gaining traction as the company’s iPhone 16 continues to exceed global sales expectations. Last week, Wedbush analyst Daniel Ives reiterated his Buy rating on Apple and set a price target of $400, citing strong momentum from the latest iPhone and strong demand. Apple is also trying its hand at AI, as the company also wants to integrate OpenAI’s ChatGPT into its ecosystem through the upcoming iOS 18.2 update. The roll-out of the new version will take place in December, initially launching in the U.S. and then moving to others. It will make it possible to improve the usability of the application through tools like Genmoji and Image Playground. Apple’s new M4 chips also offer cutting-edge neural processing, while advancing hardware with those along the way. The company also champions ‘Private Cloud Compute’ to ensure user data security during AI operations. Along with stellar financials, these developments come with $46.2 billion in iPhone revenue and $25 billion in services revenue in its fourth-quarter of 2024. Apple is preparing for another competitive edge with additional AI-driven features and global product launches. It reiterates its leadership in the tech industry, a position it is now cementing with a new standard in the industry.