Bank of America Warns Apple Investors About Meta's AI Assistant
Bank of America analyst Wamsi Mohan has issued a cautionary note for Apple investors, highlighting the potential threat posed by Meta’s new AI assistant, Muse. While maintaining his 'Buy' rating and $370 price target on Apple (AAPL), Mohan warns that Muse could shift user behavior in ways that erode Apple's control over key digital interactions like discovery, referral, and transaction initiation. Muse has rapidly gained traction since its September 8 launch, reaching the top of Apple’s U.S. App Store within two weeks with over 2.5 million downloads. The AI agent is already integrated with major commerce partners such as Shopify, Expedia, and PayPal—though Amazon blocked it due to concerns about unauthorized access. The concern lies in how Muse could redirect user activity away from traditional app ecosystems toward a single interface controlled by Meta (META). This shift may reduce Apple’s ability to capture value through its App Store or operating system. Despite this warning, Bank of America remains bullish on both Apple and Meta's long-term AI strategies.
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Topics: AI Agents Apple Bank of America Market Impact Meta