The market is having second thoughts about Apple’s AI strategy.
Early reviews of yesterday’s Apple event that released an OpenAI integration were poor, with the stock falling 2%. Analysts weighed in though and now the market is thinking this could lead to an upgrade cycle and the shares are up more than 5% to an all-time high at $203.00.
Technically, this looks like it could be meaningful as it breaks an old double top at $198.
The kicker here is that the new features will only be available on new iPhones. It could unlock a way to keep Apple users hooked and continuing to pay more than $1000 for new phones with further upgrade cycles supported by more developments and integrations in AI.
Whether you value you that depends on your view of AI in general and how it could boost productivity.
In the bigger picture, this breakout may be more impressive given that it’s happened in a tougher tape for tech.
This article was written by Adam Button at www.forexlive.com. Source