2024-06-16 11:30:00 ET
Summary
- Apple shows investors why it's well-primed to enter the generative AI race.
- AAPL stock reached a new high this week, as the market likely priced in an upgrade "supercycle."
- Apple defines generative AI on its terms, focusing on privacy and user personalization.
- AAPL stock is arguably expensive, but that doesn't mean you should bet against Apple.
- I argue why AAPL has likely broken out to resume its uptrend bias. But, waiting for a pullback makes more sense now.
Apple Intelligence Is Well Received
The moment that every Apple Inc. ( AAPL ) investor has arguably been waiting for finally arrived, as Apple unveiled its take on generative AI. Apple CEO Tim Cook reminded investors that artificial intelligence isn't new to the Cupertino company. Accordingly, Apple has been working with AI for a long time and is integrated into its devices and software. In a post-WWDC interview with Marques Brownlee or MKHBD, Cook emphasized Apple's thoughtful approach to its decision to unveil its GenAI strategy: Apple Intelligence. Cook also indicated that it was partly to satisfy the market's curiosity about Apple's view on GenAI....
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Apple: Don't Bet Against The iPhone (Rating Downgrade)