Reported 7 months ago
Benefiting from positive outlook on Apple's AI strategy, leading to increased sales and service growth, Apple's stock price has surged for three consecutive days, resulting in a 3-day increase of 11% and adding $323.9 billion to its market value. With a closing market value surpassing Microsoft, Apple reclaimed the top spot in global market capitalization since January, overtaking both Microsoft and NVIDIA. Despite this, Apple's stock has risen by 11% this year, lower than the Nasdaq 100 index's 16% increase, while competitors like Microsoft, Amazon, Alphabet, and Meta have outperformed in the AI sector. Apple's collaboration with OpenAI to introduce ChatGPT to Siri at WWDC marks a significant step in its entry into the generative AI field, with analysts optimistic that Apple's AI strategy will drive iPhone sales and service growth in the coming years.
Source: YAHOO