AAPL hits $220+ after WWDC (Jun 10-14)?
Apple Inc has kicked off its Worldwide Developers’ Conference on Mon, 10 Jun 2024.
This would be its 41st annual event, since inception in 1983.
With “leaked” rumours swirling around the internet space, it will be a watershed moment for the world’s 2nd most valuable company.
Yes, $NVIDIA Corp(NVDA)$ is still the 3rd most valuable company after its stock price slipped from a high of $1,224 per share achieved on 6 Jun 2024.
On the run up to WWDC, there have been many “leaks” shared by MacRumors and AppleInsider already.
Whether these are staged or otherwise to drum up interest, no one will really know.
What is certain though, this annual event should see Apple announcing its much anticipated foray into Artificial Intelligence (AI).
This is considered very very late in the making, compare to its peers (aka the Magnificant 7 eg $Meta Platforms, Inc.(META)$ , $Amazon.com(AMZN)$ etc. ) who have had runway success in milking the AI endeavours to no ends.
With the “official” dismantle of the Apple EV project (potentially Apple’s biggest ticket item-product), Apple could re-focus its effort and resources to pushing out usable AI features.
Apple’s take on AI.
A last-minute leak reveals all the main features Apple is expected to unveil during its developer conference.
Bloomberg is now corroborating several of them.
According to Bloomberg correspondent - Mark Gurman’s latest report, 50% of WWDC 2024 will be focused on AI features.
Even though it took Apple 2 years to enter the Generative AI trend, the conference is finally ready to unveil big changes in this field for devices — iPhone, iPad, and Mac.
Cupertino will call its AI efforts Apple Intelligence.
It will also announce a partnership with OpenAI to power ChatGPT-like chatbot.
Unlike other players, Apple will focus its AI efforts on how they can ease the daily lives of customers.
Apple’s AI Entry Criteria.
Supposedly the 2024 WWDC will confirm that Apple’s AI features require:
- At least an iPhone 15 Pro.
- Or its soon-to-be released newer iPhone 16 models, slated for year end unveiled.
- Or M1 Mac & iPad models — other peripherals AI entry requirements.
Architecture vs Privacy.
Cupertino will use both on-device and cloud servers to implement its Artificial Intelligence capabilities.
Equally important, Apple will emphasize during the conference explaining that cloud-based computing won’t build user profiles based on customer data.
Apple Inc will generate reports to show information is secure.
AI Features to Showcase:
Summarization: Quickly recap articles and web pages in Safari, meeting notes, text messages, emails, and notifications.
Smart Reply: The iPhone will create fully fleshed-out responses to emails and text messages.
Siri: A revamp of the personal assistant is coming, all thanks to new large language models (LLMs).
With the upgrade / enhancement — Siri will be able to delete an email, edit a photo, or summarize a news article.
In the future, Apple might even allow third-party apps to integrate with Siri. Whoa!
Xcode: Like Microsoft GitHub Copilot, Apple will let developers complete code using AI. This development tool will arrive in 2025 (likely).
Mail: Apple plans a Gmail-like feature to automatically categorize incoming messages.
AI-created emoji: AI will be used to create custom emoji characters.
Voice Memos: Thanks to AI, the app will automatically transcribe recordings.
Photos app: Apple will use AI to create new photo editing capabilities, enhance an image, remove a person or object from the frame, and more.
Other non-AI Features:
iOS 18. New operating system allows users to customize & rearrange Home Screen by placing apps wherever they want, as well as add a custom color to app icons.
Control Center will also have an updated interface to rearrange icons and place them across multiple pages.
Settings. App is reportedly improving navigation with better organization and more reliable search.
The Messages app will add new effects features, colorful icons for Tapbacks, the ability to schedule a message to send later, and RCS.
Passwords app (long awaited) is coming in addition to changes for Calculator, Calendar, and Health apps.
Apple is also planning new wallpaper packs, including options that look similar to early ones on the iPhone.
watchOS 11 and visionOS 2 are expected to have fairly minor upgrades, with the latter bringing new environments and Vision Pro versions of iPad software.
My viewpoints: (mine only)
As a consumer product, AI implementation falls squarely on the Apple’s ability to “hold the fort” to minimize deepfakes from duping its users; enhancing Apple environment as a safe haven for them.
Empowering Siri to help its owner “process incoming emails” will free up users’ times; allowing them to pursue their other endeavours.
Xcode should the tool, most geek developers look forward to using, allowing them to unleash the future-power of AI within Apple’s ecological environment.
Technical analysis:
AAPL’s current stock price is above its respective moving averages (ma) of 20-day, 50-day and 200-day.
This indicates Apple stock should be on the rise in the immediate term.
With RSI coming in at “71”, Apple has just crossed into “overbought” territory.
Does AAPL’s AI-embrace marks the beginning of its triumphant return ?
- Do you think Apple stock price will break through the $220 resistant level?
- Do you think Apple can get the world excited all over again with its AI-venture ?
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