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Apple looks kind of ridiculous right now
  + stars: | 2024-05-15 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +3 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Apple, though, has kept pretty quiet about its own AI ambitions so far — and it's increasingly obvious. "The buzz around AI, and specifically GenAI, has been so deafening that Apple is noticeable by omission," Dipanjan Chatterjee, vice president and principal analyst at Forrester, told Business Insider. Still, if the rumors about OpenAI or Gemini iPhone integration are true, this week's "strong announcements actually would bode well for Apple," William Kerwin, an analyst at Morningstar, said. AdvertisementThe analyst told BI that the new iPad rollout is simply an "appetizer to the real meat and potatoes" of Apple's AI strategy, expected to be announced at the WWDC in June.
Persons: , Sam Altman's, Google's, Dipanjan Chatterjee, Forrester, Chatterjee, Gene Munster, it'd, Apple's, bode, William Kerwin, Siri, Dan Ives Organizations: Service, Big Tech, Business, Apple, Conference, Google, Deepwater Asset Management, Morningstar, Microsoft
Google I/O 2024 "should assuage fears over [Alphabet's] AI competitive position," analysts at Oppenheimer wrote in a research note to clients on Wednesday. Here's the full list of Alphabet's AI updates. "I was using Google Search versus using ChatGPT … [and] ChatGPT was so much more thorough than Google without ads. The next big question in AI: Who will Apple choose to partner with for its own AI features? Google CEO Sundar Pichai speaks at the Google I/O developer conference.
Persons: Goldman Sachs, Oppenheimer, Bard, Jim Cramer, Siri, Alexa —, Sundar Pichai, ChatGPT, Jim, Goldman, Jim Cramer's, Andrej Sokolow Organizations: Citi, Google, Wednesday, ChatGPT, Microsoft, Gmail, Gemini, Apple, Developers, CNBC, Getty
Alphabet CEO Sundar Pichai said Google will "sort it out" if it determines Microsoft -backed OpenAI relied on YouTube content to train an artificial intelligence model that can generate videos. The New York Times later reported that OpenAI had transcribed over a million hours of YouTube videos. Asked if Google would sue OpenAI if the startup violated the search company's terms of service, Pichai didn't offer specifics. Pichai said Google has processes in place to figure out if OpenAI failed to comply with the rules. WATCH: Alphabet CEO on report OpenAI trained GPT-4 on YouTube: We have clear terms of service
Persons: Sundar Pichai, OpenAI, CNBC's Deirdre Bosa, Mira Murati, Murati, Pichai, Apple, Bosa, We'll, GPT Organizations: Microsoft, Wall Street Journal, New York Times, Google, Google's, Astra, Apple, Developers Conference, Bloomberg, Gemini Locations: U.S, Cupertino , California
In today's big story, everyone's talking — literally — about the big update for OpenAI's ChatGPT that could make your job a lot easier . AdvertisementOpenAI may have finally cracked the code on voice interactions with AI, though. OpenAI says GPT-4o's average response to audio inputs is 320 milliseconds, which is on par with a typical human-to-human conversation. "They've essentially made text input almost be the barbaric form of communicating with ChatGPT (or any AI) now," the developer said. ChatGPT, Tyler Le/BIOpenAI's big reveal shows the shockwaves the startup keeps sending through the tech world.
Persons: , Here's, ChatGPT Holger Scheibe, Tyler Le, OpenAI, Alex Bitter, They've, ChatGPT, Katie Notopoulos, Siri, it's, Apple that's, Andrew Burton, Justin Sullivan, Rebecca Zisser, Tim Cook's, Tesla, Mark Zuckerberg, he's, Nathan Congleton, Melinda, Gates, French Gates, she'd, Melinda Gates, Bill Gates, Doug McMillon, It's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Teen, Business, HAL, Hollywood, Apple, Apple's Worldwide, Conference, GPT, Google, Microsoft, Washington, Getty, Tesla, Melinda Gates Foundation, University of Arkansas, Depot, Sony, Disney, Cannes Locations: NBCU, New York, London
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. There was largely an "absence of news" last week, Jim Cramer noted, and yet stocks were still able to advance. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Stocks, Jim, OpenAI, Vimal Kapur, Jim Cramer's Organizations: CNBC, Dow Jones Industrial, Nasdaq, Apple, Bloomberg News, Developers Conference, Honeywell International, Club, Honeywell, AAPL
Microsoft is adding an AI feature to its Edge web browser in an apparent bid to win more users. Rival web browsers Chrome and Safari are far more popular than Edge, StatCounter data shows. Microsoft plans to launch an "AI theme generator" next month that will let users create their own browser themes by using a text prompter to create images. AdvertisementMicrosoft Edge launched in 2015 to rival web browsers Google Chrome and Apple's Safari. Chrome is the web browser for most internet users.
Persons: , it's, Safari Organizations: Microsoft, Google, Apple, Service, Chrome, Edge, Worldwide Developers Conference, Business
OpenAI unveils newest AI model, GPT-4o
  + stars: | 2024-05-13 | by ( Clare Duffy | ) edition.cnn.com   time to read: +5 min
The new model, called GPT-4o, is an update from the company’s previous GPT-4 model, which launched just over a year ago. Rivals including Google and Meta have been working to build increasingly powerful large language models that power chatbots and can be used to bring AI technology to various other products. The OpenAI event came one day ahead of Google’s annual I/O developer conference, at which it’s expected to announce updates to its Gemini AI model. OpenAI executives demonstrate the company's latest large language model, GPT-4o. Free ChatGPT users will have a limited number of interactions with the new GPT-4o model before the tool automatically reverts to relying on the old GPT-3.5 model; paid users will have access to a greater number of messages with the latest model.
Persons: OpenAI, Mira Murati, ” Murati, ChatGPT, “ You’re, Scarlett Johansson, , Sam Altman, it’s Organizations: New, New York CNN, Monday, San, Rivals, Google, Gemini, Apple, Worldwide Developers Conference, Microsoft Locations: New York, ChatGPT, San Francisco
I've been testing the new iPad Pro for several days and what I found is that it's a very nice iPad. The game will look better once Activision Blizzard releases an update enabling improved graphics for the M4 iPad Pro. 2024 13-inch Apple iPad Pro Todd Haselton | CNBCThe new iPads Pro support Apple's updated $350 Magic Keyboard for iPad Pro (the 11-inch version is $300). 2024 13-inch Apple iPad Pro Todd Haselton | CNBCThe updated Apple Pencil Pro is also a lot of fun. What's bad2024 13-inch Apple iPad Pro Todd Haselton | CNBCHere's my biggest gripe about the Pro models: The software, iPadOS, is what you'll get on any other iPad.
Persons: I've, Apple hasn't, Christoph Dernbach, Diablo, it's, Todd Haselton, hasn't, Apple, Slack, you've, Tim Cook Organizations: Apple, Getty, Pro, Activision Blizzard, CNBC, CNBC Here's, Conference, WWDC Locations: It's, 10hz
Apple executives knew they needed to upgrade Siri after they started using ChatGPT. The company's software chiefs spent weeks using the OpenAI chatbot before making the decision. AdvertisementApple executives realized their digital assistant Siri badly needed an upgrade after they began testing OpenAI's chatbot, ChatGPT. Unlike most tech giants, Apple has remained relatively coy about how it intends to compete in the field of AI. The Sam Altman-led AI company has long been on Apple's radar, with Cook admitting in an interview with Good Morning America last year that he, too, uses ChatGPT.
Persons: Siri, , Craig Federighi, John Giannandrea, Giannandrea, Tim Cook ., Apple didn't, Cook, hasn't, Sam Altman Organizations: Apple, Developers, Service, New York Times, BI, Developers Conference, coy, Microsoft, Meta, Google, Financial Times, Taiwan Semiconductor Manufacturing Company, Street, OpenAI, Bloomberg, Good Morning America Locations: Cupertino
The AI company basically planted a flag in the sand emblazoned with two words aimed at its Big Tech rivals: your move. The newest version of the AI chatbot, powered by OpenAI's new flagship AI model GPT-4o, can reason across audio, vision, and text in real time. AdvertisementAll the while, the voice assistant maintained a lighthearted and cheerful tone. In another instance, ChatGPT said the researcher was making it blush when he said he was talking about how "useful and amazing" ChatGPT was. Meanwhile, Amazon had plans to release an "Alexa Plus" paid version of the voice assistant that's powered by generative AI, Business Insider's Eugene Kim first reported.
Persons: , Sam Altman, Mira Murati, Scarlett Johansson, Spike, Mark, ChatGPT, OpenAI, Alexa, Apple's Siri, Siri, There's, Insider's Eugene Kim Organizations: Service, Big Tech, Business, Warner Bros, Google, Apple, Amazon Locations: ChatGPT
Wedbush reiterates Apple as outperform Wedbush said it's standing by its outperform rating on shares of Apple . Bank of America reiterates Palantir as buy Bank of America said it's standing by its buy rating on shares of Palantir. Bank of America initiates Apogee Therapeutics at buy Bank of America said the biotech company has best-in-class potential. Bank of America upgrades Bumble to buy from neutral Bank of America sees "multiple expansion" for the dating app company. Bank of America reiterates Walmart as buy Bank of America said it's bullish heading into Walmart earnings on May 16.
Persons: Bernstein, Wedbush, Palantir, Wells, CRNC, Stifel, TD Cowen, Morgan Stanley, Raymond James, it's, Bumble, Lear, Tesla, Oppenheimer, Guggenheim Organizations: Nvidia, Citi, Cheesecake, Apple, Worldwide, " Bank of America, Bank of America, Mizuho, Apogee Therapeutics, Warner Brothers Discovery, HSBC, TPG, of America, Dominion, underperform Bank of America, Dominion Energy, Barclays, Nike, Walmart, Supercenters, Moffett Locations: WWDC, Palantir, OW, U.S
Warren Buffett's reasons this weekend for trimming Berkshire Hathaway's massive Apple stake exemplify one of Jim Cramer's primary rules of investing. More recently, Jim steadfastly stood by his "own it, don't trade it" conviction as Apple shares went on a rough ride earlier this year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Warren, Jim Cramer's, Jim, Buffett, Tim Cook, CNBC's Becky Quick, Cook, Becky, Jim likes Apple, Apple, Jim Cramer, Warren Buffett Organizations: Apple, Developers, CNBC, Berkshire Locations: Berkshire, Omaha , Nebraska
Steve Eisman told Bloomberg TV that Apple will benefit from the coming wave of AI-based applications. Prospects of an AI iPhone have spurred bullish calls among other analysts. AdvertisementApple is well positioned to exploit the second leg of artificial intelligence, as the technology starts to take the form of mobile applications, Steve Eisman said. Sacconaghi's bullishness preceded Apple's winning earnings, during which CEO Tim Cook teased big AI announcements to come. AdvertisementWhen it comes to AI, Eisman has previously touted big investments in infrastructure, which would benefit from the tech's massive power demand.
Persons: Steve Eisman, , everybody's, Neuberger Berman, we're, Eisman, Bernstein's, Toni Sacconaghi, Sacconaghi's bullishness, Tim Cook, Dan Ives Organizations: Bloomberg, Apple, Service, Nvidia, AMD, Cook, Co, Securities, Worldwide Locations: China
There's mounting evidence of how serious Apple is about artificial intelligence, Jim Cramer said Tuesday, pointing to a Wall Street Journal report about the tech giant developing AI data center chips. "This is the beginning of what I regard as the Apple offense on AI." He also reiterated his Apple stock mantra: "Own it, don't trade it." Following a 48% gain last year and an all-time just under $200 per share back in December, Apple shares fell on hard times. Jim suggested Tuesday that Apple investors will be rewarded for their patience once management fully unveils their forthcoming AI strategy.
Persons: Jim Cramer, Jim, Tim Cook Organizations: Wall, Apple, Data Centers, Taiwan Semiconductor Manufacturing, Big Tech, Developers Conference
In a pre-recorded live streamed event from its Cupertino, California headquarters, the company introduced the latest versions of its iPad Pro and iPad Air tablets, and an all-new Apple Pencil Pro. CEO Tim Cook said Wednesday’s announcement marked “the biggest day for iPad since its introduction.”At the heart of the new iPad Pro is Apple’s new custom M4 processor, which delivers 4 times the performance as its existing iPad Pro models. The latest iPad Pro comes in two sizes: 11 inches and 13 inches. The iPad Pro comes in two finishes, silver and space black. The iPad Air is powered by Apple’s custom M2 processor with faster GPU and neural engine that’s 50% faster than the previous iPad Air.
Persons: Tim Cook, Cook, Apple, , it’s Organizations: CNN, Apple, Developers Conference, iPad Locations: Cupertino , California, China
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
Persons: Jim Cramer, Jerome Powell, Jim Cramer's, Stanley Black, Decker, Cramer, Jim, That's, there's, Nelson Peltz, Peltz, We've, we'll Organizations: CNBC, Federal, Logitech, After West Texas, Energy Department, Strategic Petroleum Reserve, Susquehanna, Disney, Developers, Apple, Wynn Resorts, Arista Networks, Rivian, Occidental Petroleum, Bros, Reddit, Emerson Electric, Jim Cramer's Charitable Locations: FirstSource, After, Macao, Las Vegas, Occidental, Lyft
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stock gains continue: The market is higher on Monday, extending its gains over the past three sessions to nearly 3%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jerome Powell, overbought, Jim Cramer's, Jim, Mellody Hobson, Howard Schultz, Laxman Narasimhan, Eli Lilly, Amgen, Lilly, Christian Organizations: CNBC, Stock, Starbucks, Worldwide Developers Conference, VisionPro, Nvidia, pharma, FDA, Simon Property Group, Club, Rockwell Automation, Jim Cramer's Charitable, Apple, Getty Locations: WWDC, Hamburg, Germany
AAPL 1D mountain Apple shares on Friday More substantive updates on Apple's latest AI offerings in both hardware and services are expected to come during its Worldwide Developers Conference in June. According to JPMorgan's Samik Chatterjee, the focus during the event will primarily be on the AI features Apple will include in its iOS 18 software. Mohan holds a buy rating on shares and slightly increased his price target to $230 from $225. "We think Apple can deliver AI upside without the AI capex we see elsewhere," Evercore ISI analyst Amit Daryanani wrote in a Thursday note following the earnings. "Apple is accelerating investments in Generative AI and [is] set to introduce new features at its most important developer conference ever."
Persons: Apple didn't, Wall, JPMorgan's Samik Chatterjee, Wamsi Mohan, Mohan, Amit Daryanani, Morgan Stanley's Erik Woodring, Woodring, Wells Fargo's Aaron Rakers, Rakers, America's Mohan, Michael Bloom Organizations: Apple, Worldwide Developers Conference, of America, America's Locations: WWDC
Apple CEO Tim Cook's base salary has been $3 million a year since 2016. His total compensation was $63.2 million in 2023, down from $99.4 million the previous year. AdvertisementApple chief Tim Cook has been paid an annual salary of just $3 million since 2016. However, the CEO of the second-most valuable US company also gets stock awards and a performance-based bonus, which boosts his overall earnings. His pay packet was made up of $46.9 million in stock awards and $10.7 million in non-equity incentive plan compensation.
Persons: Tim Cook's, , Tim Cook, Cook, It's, Apple Organizations: Apple, Service, SEC, Forbes, Bloomberg, Developers Conference, Business Locations: China
JPMorgan upgrades Williams-Sonoma to neutral from underweight JPMorgan said in its upgrade of the stock that the home furnishings category is stabilizing. "We are downgrading shares of EXPE to Mkt Perform from OP with a target price of $145 vs. $165 previously." JPMorgan upgrades Joby to neutral from underweight JPMorgan said its bear thesis has largely played out for the aviation company. Guggenheim reiterates Target as buy Guggenheim said investors should buy the dip in shares of Target . Morgan Stanley downgrades Estee Lauder to equal weight from overweight Morgan Stanley said it sees a slower recovery for shares of Estee Lauder .
Persons: Stifel, Wells, Truist, OLLI, Guggenheim, Tim Cook, William Blair, Amgen, Jefferies, We've, Ari sta, it's, Morgan Stanley downgrades Estee Lauder, Morgan Stanley, Estee Lauder, TD Cowen, Parsons, Bernstein, Oppenheimer, CFRA, Berkshire Hathaway Organizations: RBC, FTAI Aviation, Pacific, Union Pacific, JPMorgan, Williams, WSM, BMO, Bank of America, Apple, Kiniksa Pharmaceuticals, JOBY, Guggenheim, Target, Citi, MCW, Arista, PSN, Avidity, ~$ Locations: Sonoma, EXPE, GEICO
Sacconaghi has a $195 price target on shares, suggesting 15% upside from Wednesday's close. Bernstein is optimistic that the ongoing weakness in the China market "is more cyclical than structural." Oppenheimer analyst Martin Yang lowered his forecast for the current quarter ahead of the report, accounting for softer iPhone sales trends in China. Sankar has a buy rating and a price target of $220. Malik reiterated his buy rating on the stock ahead of the announcement while notching down his price target to $210 from $220.
Persons: Tesla, Bernstein, Toni Sacconaghi, Sacconaghi, Oppenheimer, Martin Yang, Yang, Samik Chatterjee, Chatterjee, TD Cowen's Krish Sankar, Sankar, JPMorgan's Chatterjee, Atif Malik, Malik, Cowen's Sankar Organizations: Apple, Wall Street, Huawei, Counterpoint Research, JPMorgan, Citi Locations: China, India
CNN —Even though Apple has silenced critics and beaten existential crises before, some fans of its minimalist products and investors in its maximalist stock are nervous. Analysts are expecting low sales figures for the quarter ending March 31 – despite the company beating expectations in the last four quarters. This will be its first earnings report since the launch of its biggest new product in years, its $3,499 mixed reality Vision Pro headset. Market research firm IDC said Apple’s smartphone shipments tumbled a stunning 10% globally in the first quarter of this year. All eyes on AIAccording to David McQueen, research director at tech intelligence firm ABI Research, the company could spark sales growth soon.
Persons: Apple, Ming, Chi Kuo, , , Nabila Popal, David McQueen, OpenAI Organizations: CNN, Apple, IDC, Huawei, Xiaomi, Samsung, ABI Research, Developers Conference, ChatGPT Locations: China, Hollywood
Investors are focused on Apple's iPhone sales in China as competition ramps up. Here's what Wall Street expects from Apple's upcoming earnings report. Here are the quarterly figures Wall Street expects, according to data from Bloomberg. Here's what Wall Street analysts are saying about Apple's upcoming earnings report. The firm said Wall Street estimates on Apple are too high, with analysts underestimating the ongoing weakness in China.
Persons: , Wells, Wells Fargo, shouldn't, Goldman Sachs, underwhelming Organizations: Apple, Investors, Service, Bloomberg, Revenue, Huawei, Barclays, Better, JPMorgan Locations: China, Wells Fargo, Wells, C1Q, Apple's
Treasury yields dip: In addition to earnings, the other part of the market's gauntlet this week is a trio of huge Treasury auctions. The PMI data was softer than expected, confirming signs of the economic "brown shoots" that Jim Cramer has recently been flagging. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jim, Jim Cramer's Organizations: CNBC, Nasdaq, Dow Jones, Treasury, P Global, PMI, Federal, Amazon, Foods, Apple, Developers, Tesla, Enphase, Texas, Boeing, Boston Scientific, Otis Worldwide, Jim Cramer's Charitable Locations: Enphase Energy, Humana
Apple believes that AI is the future
  + stars: | 2024-04-16 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +3 min
Apple wanted all eyes to be on the Vision Pro when it launched. A report about AI chips coming to next-gen Macs helped boost Apple's stock by $112 billion. AdvertisementTwo months ago, Tim Cook was busy marking Apple's bold new vision of the future with the launch of expensive nerd goggles. Second, the future of the Vision Pro remains highly uncertain. Just don't expect the Vision Pro to steal the show in the same way a big AI reveal would.
Persons: , Tim Cook, Bloomberg's Mark Gurman, Apple, Peter Kafka Organizations: Apple, Service, International Data Corporation, Publishing, Getty, Huawei, Apple's, Vision Locations: Cupertino, Shanghai, China
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