Bank of America: Meta's Muse AI agent threatens Apple's services revenue

Bank of America analyst Wamsi Mohan warned that third-party AI agents like Meta's Muse could capture product discovery, referrals and transactions that currently flow through Apple's ecosystem. Apple shares fell more than 2.5%. Muse topped ChatGPT on the US App Store free chart in 10 days and has passed 3.4 million downloads.

• Apple shares dropped more than 2.5% after the Bank of America note
• Muse has 3.4 million downloads and 10 days at No. 1 on the US App Store
• Muse integrates with Shopify, Shop Pay, Expedia and PayPal
• Mohan kept a Buy rating and $370 price target on Apple