Apple Shares Hit Record High

The value of Apple securities on Tuesday, June 11, increased by 5%, reaching a new record high of $203 per share.

Apple Shares Hit Record High

The mentioned result was recorded the day after the specified technology giant, based in Cupertino, California, announced its long-awaited actions in the artificial intelligence industry at a developer conference.

During the Apple event on Monday, June 10, several new machine intelligence features were introduced, including the modernization of the Siri voice assistant, integration with OpenAI’s ChatGPT, and several tools designed to generate text materials and new customizable emojis. The technology giant described these functions as artificial intelligence for the average person. The media reports that iPhone owners will probably need to upgrade their devices to gain access to new AI-based tools.

The developer conference was a long-awaited signal for investors that the technology giant intends to become one of the beneficiaries of the so-called artificial intelligence boom, which began in 2022 after the debut of ChatGPT. Apple has lagged behind other companies in the AI area but is gradually starting to move towards gaining its share in the relevant market.

Morgan Stanley analysts say that the artificial intelligence features presented by the technology giant make the brand the most differentiated digital agent for consumers. Experts also suggest that these features will drive iPhone owners to update their devices which will speed up the replacement cycle of Apple smartphones. According to analysts, the functions of artificial intelligence are a kind of platform for the technology giant to return to a growth trajectory and achieve more sustainable outperformance.

As we have reported earlier, Apple to Open First Store in Malaysia.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.