Apple’s shares skyrocketed to a record high of $207.15 per share on Tuesday, following the company’s highly anticipated announcement of its artificial intelligence (AI) features at its annual developer conference. The tech giant unveiled a range of innovative AI-powered tools, including an overhaul of its voice assistant Siri, integration with OpenAI’s ChatGPT, writing assistance tools, and customizable emojis. The features are designed to make AI accessible to the average person, but users will likely need to upgrade their iPhones to access the tools. Analysts from Morgan Stanley, Bank of America, and Evercore were optimistic about Apple’s announcements, predicting that the AI features will drive consumers to upgrade their iPhones, leading to an upgrade cycle and potential growth in the company’s services. The analysts believe that Apple is well-positioned to capitalize on the ongoing AI boom, and its AI strategy will lead to a multi-year product refresh.
Apple Soars to New Heights
Apple introduced a range of new AI features during the event, including an overhaul of its voice assistant Siri, integration with OpenAI’s ChatGPT, a range of writing assistance tools and new customizable emojis.
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