Apple scores big after the launch of Apple Intelligence.

Although Apple's stock price fell 1.9% after the close of trading on June 10th, things changed dramatically the following day. By the end of trading on June 11th, Apple's stock price reached $207.15, a 7.26% increase from its opening price of $193.65. This surge in stock price was due to Wall Street and the public having more time to process the company's major announcements on the opening day of WWDC 2024 (June 10th).

Apple Intelligence helped Apple's stock price reach a new record high.

The biggest factor impacting the stock was the emergence of Apple Intelligence, the company's effort to incorporate more machine learning and innovative artificial intelligence (AI) into its products and services, something stock analysts had been lamenting throughout the past year.

Additionally, investors also like the idea that Apple Intelligence requires an Apple Silicon chip or the A17 Pro to function. This means it would be limited to Mac models manufactured from late 2020, the iPhone 15 Pro series, and future iPhone models with sufficiently powerful chips.

Apple returned to a $3 trillion valuation last week, largely thanks to promises of what the company will announce at WWDC 2024. In January 2022, the iPhone maker became the first company to reach a $3 trillion market capitalization, but this figure has gradually declined in subsequent years, bringing it below $3 trillion.

Earlier this year, Apple's stock price was at $184.93 before plummeting to a low of $165 on April 19th. The sell-off by investors stemmed from weak iPhone 15 sales and the company's lack of a clear AI plan. However, things improved two weeks ago after the company increased its dividend and launched a massive share buyback program. Now, with what Apple Intelligence promises to deliver on its products, investors are placing renewed confidence in the iPhone maker.

Source: https://thanhnien.vn/apple-thang-lon-sau-su-ra-mat-cua-apple-intelligence-185240612135327649.htm