Apple will trigger a much-needed iPhone upgrade cycle when it integrates its artificial-intelligence offering, called Apple Intelligence, into the iPhone 16 this fall, DA Davidson analyst Gil Luria says in a research note. The integration may be one of the most compelling use-cases of generative AI on the consumer-side, and should drive upgrades, particularly as the backwards compatibility of Apple Intelligence only goes to the iPhone 15 Pro, the analyst says. Apple’s iPhone sales were down slightly but relatively flat in 2Q, but the iPhone 15 family is still leading the smartphone category in many key markets, Luria says. Shares rise 3% to $224.83, on a day that the overall tech sector is under pressure