Analysts at Lynx Equity Strategies are long into Apple's (NASDAQ:) earnings release after the close today, stating they believe the iPhone maker is "the next idea to be discovered."

In a recent note, analysts address concerns surrounding iPhone sales, attributing recent weakness to temporary production disruptions rather than systemic issues. They project a 3% increase in iPhone sales for the fiscal year, defying consensus estimates of a 1% decline.

However, the note also highlights the potential for growth in Apple's Mac division, with expectations for Mac sales to surpass consensus estimates. In addition, the most compelling aspect of the analysis lies in Apple's strategic move into artificial intelligence (AI).

Analysts argue that Apple's Mac devices, bolstered by powerful hardware and the upcoming M4 processor, are primed to capitalize on the AI revolution. By offering access to popular open-source language models (LLMs) and curating a selection of AI applications, Apple could tap into a vast user base and ignite a significant refresh cycle for its devices.

Despite short-term challenges and market volatility, the analysts at Lynx maintain a bullish outlook on Apple, setting a price target of $220. They urge investors to look beyond quarterly fluctuations and focus on the long-term potential of Apple's AI ambitions, which could reshape the tech landscape in the years ahead.

"Investors have been searching for the next big idea after NVDA/MSFT. Investors have discovered GOOG. We think AAPL is the next idea to be discovered," declares Lynx Equity Strategies. "We will not allow the China handset noise to distract us."