Materials from Apple’s WWDC 2024 presentation on the upcoming introduction of artificial intelligence technologies have had a delayed impact on investors, as the event has already ended and the company’s stock price continues to rise. Currently, Apple boasts a capitalization of around $3.3 trillion, making it the most valuable company in the world.
Until recently, Microsoft was considered the leader but has since lost this title to its competitor from Cupertino. Microsoft now holds second place with a capitalization of $3.26 trillion. Both companies, alongside Nvidia, aim to reach a capitalization of $4 trillion in the future. Apple shares finished the last trading session at $214.95, marking a 3.8% increase compared to the previous day. Since the beginning of the year, the company’s shares have appreciated by approximately 10%.
Impact of Apple’s AI Technology Announcement
Mizuho Securities analysts noted that Apple’s revelations at the developer event were not sensational, but the release of the Apple Intelligence family of technologies is seen by investors as a step in the right direction. In the most modest scenario, it will increase the attractiveness of the company’s shares on the market. In the optimistic scenario, it will make the autumn update cycle of Apple devices more pronounced in terms of revenue received, notes NIXsolutions.
Currently, less than 10% of iPhones in use are Apple Intelligence-ready, indicating a high potential for upgrading the client device fleet. We’ll keep you updated on further developments and market reactions as Apple continues to innovate and expand its technological horizons.