Apple wins big with the launch of Apple Intelligence

Although Apple’s stock price fell 1.9% after the close of trading on June 10, things changed dramatically the next day. At the end of trading on June 11, Apple’s stock price reached $207.15, up 7.26% from its opening price of $193.65. The stock price surge was due to Wall Street and the public having more time to digest the company’s big announcements on the opening day of WWDC 2024 (June 10).

Apple Intelligence has helped Apple's stock price hit a new record high.

The biggest driver for the stock has been the arrival of Apple Intelligence, the company's effort to incorporate more machine learning and more innovative artificial intelligence (AI) into its products and services, something that stock analysts have been lamenting over the past year.

Investors also like the idea that Apple Intelligence will need Apple Silicon or the A17 Pro chip to work, which would mean limiting it to Mac models manufactured since late 2020, the iPhone 15 Pro line, and future iPhone models with powerful enough chips.

Apple returned to the $3 trillion valuation last week, largely thanks to the promise of what the company will announce at WWDC 2024. In January 2022, the iPhone maker became the first company to reach a $3 trillion market cap, but that figure has steadily declined in the years since, bringing it below $3 trillion.

Apple's stock price was at $184.93 at the start of the year before falling to a low of $165 on April 19. The sell-off by investors was due to weak iPhone 15 sales and the lack of a clear AI plan from the company. However, things improved two weeks ago after the company increased its dividend and launched a massive stock buyback program. Now, with Apple Intelligence promising to deliver on its products, investors are putting their faith in the iPhone maker again.

Source: https://thanhnien.vn/apple-thang-lon-sau-su-ra-mat-cua-apple-intelligence-185240612135327649.htm