Apple Little Changed On Ai News

Apple Little Changed On Ai News by Ashly Chole last updated on June 20, 2024

Apple (Appl) Little Changed On Ai Integration

Apple has unveiled a new feature, 'Apple Intelligence,' for its devices such as iPhone, Mac, & others. The new feature is powered by OpenAI's ChatGPT and will allow Apple to offer AI services to its customers.

According to Apple, the voice assistant Siri will now be able to interact with the calendars, emails, and text messages. In fact, customers will be able to write emails and a lot of other creative tasks with Siri.

Apple also made it clear that despite the integration of third-party AI into its devices, the main focus will still be user safety. Through this initiative, Apple wants to distinguish itself from others, such as Google and Microsoft.

Despite the positive news, it appears that Wall Street remains unimpressed and likely needs more assurance that Apple is in a good positon to compete in the AI market.

That's why the Apple (APPL) stock actually plunged by 2% after the AI annoucement. Generally, the news should be positive for the Apple stock but it seems investors want more from Apple.

In the last month, Apple stock has rallied almost 13% and is trailing the other tech companies in its particular sector. According to one analyst, the company has not done anything to propel itself in front of other tech companies.

Although the new AI integration will improve Apple's intelligence, it will still be nowhere close to the competition, such as Microsoft and Google. An executive at Apple commented on how Apple's intelligence will open the doors to AI for the rest of us.

Experts believe that the new AI integration will only lead to short-term gains as iPhone sales are still the key revenue driver for the company.

For now, it looks like Microsoft and Google are taking the lead when it comes to the AI race, as Apple is lagging behind.