Apple stock saw a boost in trading volume for the second consecutive day following reports of a major artificial intelligence-focused update to its Mac lineup. The company plans to introduce new Mac computers equipped with M4 chips, designed in-house and integrated with AI capabilities. The move caused Apple stock to surge by 4.3% on Thursday and climb by as much as 1.9% in morning trades on Friday.
Despite the initial gains, Apple stock closed the regular session up 0.9% at 176.55. Analysts are optimistic about the anticipated AI features that will be added to Apple’s iPhone 16 lineup later this year. The tech giant is expected to showcase its AI innovations at the Worldwide Developers Conference in June, with the aim of generating higher revenue by enticing consumers to upgrade to newer devices with enhanced AI capabilities. The recent pullback in Apple stock is seen as an enticing opportunity for investors, according to CFRA Research analyst Angelo Zino.
Zino reiterated his buy rating on Apple stock, highlighting the potential for increased pricing and revenue within the Mac segment. With the upcoming release of AI-enabled Mac computers and the anticipated AI features on the iPhone 16, Apple is positioning itself to capitalize on the growing demand for advanced AI technology in consumer electronics. The company’s strategic focus on AI innovation reflects its commitment to staying at the forefront of technological advancements in the industry.
