Technical Analysis for AAPL
$Apple(AAPL)$
The potential deal would allow Apple to offer a popular chatbot as part of a series of new AI features, which the company plans to unveil at its annual Worldwide Developers Conference in June. Apple CEO Tim Cook has expressed confidence in its AI prospects despite concerns from investors and has invested $100 billion in research and development over the past five years. Apple's push into the AI space includes the development of its own AI chips for data centers, codenamed ACDC, which could potentially disrupt the market.
Technical Outlook
Despite the positive development, Apple Inc. stock closed Friday's trading session down by 0.82% and also closed with a Relative Strength Index (RSI) of 63.62. Apple's daily price chart formed a downward gapping pattern which is a bearish reversal pattern. But investors ought to be cautious of any further development as Apple stock has performed considerably well 1st quarter.
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