Wedbush analyst Dan Ives typically refers to Nvidia Corp NVDA CEO Jensen Huang as “the Godfather of AI.” The tech analyst could have to regulate his phrasing as he believes Huang may find yourself sharing the title with Apple Inc’s AAPL Tim Prepare dinner.What To Know: Monday on CNBC’s “Energy Lunch,” Ives made the case that Apple is on the point of an AI supercycle that can make it the face of the AI revolution for the patron.“I feel for Apple proper now, they’re on the prime of the mountain as a result of it’s their citadel,” Ives stated. Apple unveiled a slew of recent AI-powered options at its Worldwide Builders Convention (WWDC) at the start of the month. A number of analysts lifted worth targets on Apple inventory following WWDC, highlighting the corporate’s large lively put in base of greater than 2.2 billion iOS gadgets.Forward of the occasion, many seen Apple as being effectively behind within the AI race, however it appears most analysts now consider Apple’s new AI-powered gadgets will drive a big improve cycle this 12 months. Ives is in that camp. He instructed CNBC Apple is “taking part in chess whereas others play checkers.”AI goes to be delivered to the patron via Apple. The corporate is probably going going to signal offers with a number of main AI corporations and act as a gatekeeper for AI expertise, he stated, including that Apple additionally owns the App Retailer which is the place anybody constructing an AI device goes to make it accessible.“As a result of proper now you’re on the surface of this get together that Apple is basically going to run, and when you consider the AI revolution … it’s 9 p.m. in an AI get together that we see going to 4 a.m.,” Ives stated. Associated Hyperlink: Apple Stands Out In Edge AI Whereas Arista, Coherent, Dell And Tremendous Micro Are High Picks For {Hardware}: JPMorganWhy It Issues: Ives believes that Apple’s “golden” put in base mixed with its App Retailer dominance is value between $30 and $40 per share alone. “That is the beginning of a renaissance of progress … A 12 months from now, I feel we’re taking a look at a $4 trillion market cap for Apple,” the Wedbush analyst stated. Ives believes Apple inventory is on its approach to someplace between $275 and $300 per share as an increasing number of corporations choose up the telephone and name Cupertino, seeking to combine AI instruments into Apple gadgets. “There’s the Godfather of AI within the enterprise, that’s in fact Jensen Huang and Nvidia. On the patron facet, it might be Prepare dinner,” Ives stated.Don’t Miss: Nvidia Dominates GPU Market as Generative AI Adoption Grows, Analyst SaysAAPL Worth Motion: Apple shares closed Monday up 0.31% at $208.14, in keeping with Benzinga Professional. The inventory has gained 8.11% for the reason that begin of the 12 months. Picture: Shutterstock.