From Nasdaq: 2024-06-13 08:10:00

Shares of Apple (NASDAQ: AAPL) surged over 7% after the company announced its AI software, Apple Intelligence, at its annual Worldwide Developers Conference. The software will be available this fall, sparking investor enthusiasm and pushing stock prices above $207. With shares up 21% in the last three months, investors are debating whether it’s time to buy, sell, or hold the tech stock.

Apple CEO Tim Cook highlighted the power and integration of Apple Intelligence during the keynote. The software will only be available on newer Apple products, potentially driving a wave of smartphone upgrades. Analysts anticipate strong growth in iPhone sales once the latest product is launched this fall, leading to a positive outlook for the company’s financial performance.

Despite the excitement surrounding Apple Intelligence, some investors worry that Apple’s stock may be overvalued. The current price reflects high expectations, making it challenging to justify buying shares at this level. Considering potential iPhone sales acceleration and previous successful upgrades, it may be prudent to hold off on investing in Apple at this time. However, investors should conduct their research to determine the best course of action.

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Disclosure: Daniel Sparks and his clients have no positions in the mentioned stocks. The Motley Fool recommends and has positions in Apple. The author’s views do not necessarily align with those of Nasdaq, Inc., and the article includes a disclaimer regarding the expressed opinions and views.



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