From Nasdaq: 2024-06-21 03:10:00

Earlier this month, Apple entered the AI race at its conference, unveiling new features like Apple Intelligence and a partnership with OpenAI. These features include generative AI abilities, writing tools, image styles, and enhancements to Siri. Apple’s stock has jumped 13% in the past month due to investor optimism surrounding these AI announcements.

Apple’s integration of AI into its ecosystem could potentially shorten the iPhone upgrade cycle and drive revenue growth from app demand. Despite slow revenue growth, the stock has a forward P/E ratio of nearly 33. While shares are up only 11% year to date, recent AI developments have sparked investor interest. Consider staying on the sidelines before investing in Apple stock.



Read more at Nasdaq: Apple Unveils Its Artificial Intelligence (AI) Plans. Is This a Signal to Buy the Stock?