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☆ CNBC Daily Open: Did Apple’s shiny new things improve market sentiment?
▼ + stars: | 2024-09-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Nic Coury | AFP | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineMaybe all it takes are shiny new things to lift our mood and take our minds off recession fears. Of course, Apple's event is not the sole reason markets rose yesterday. They'll also let us know if we can afford those shiny new things that Apple's dangling in front of us.

Persons: HSI, Nic Coury, I'm, Zers, CNBC's Kelly Evans, They'll, – CNBC's Pia Singh, Lisa Kailai Han Organizations: Apple, AFP, Getty, CNBC, Research, Bloomberg, Nvidia, Nasdaq, Dow Jones Industrial Locations: Cupertino , California, U.S, Cupertino

Apple on Monday charged into the artificial intelligence craze with a new iPhone lineup that marks the company’s latest attempt to latch onto a technology trend and transform it into a cultural phenomenon. The four different iPhone 16 models will all come equipped with special chips needed to power a suite if AI tools that Apple hopes will make its marquee product even more indispensable and reverse a recent sales slump. Most of Apple’s AI functions will roll out as part of a free software update to iOS 18, the operating system that will power the iPhone 16 coming out in December. English will be the featured language at launch but an update enabling other languages will come out next year, according to Apple. Although Apple is releasing a free version of its operating system to propel its on-device AI features, the chip needed to run the technology is only available on the iPhone 16 lineup and the high-end iPhone 15 models that came out a year ago.

Persons: Siri, Tim Cook, Apple, ”, Paolo Pescatore, OpenAI Organizations: Apple, Samsung, Google, Apple Intelligence, Samsung Galaxy Locations: Cupertino , California, Monday’s

Apple is hosting an event at its headquarters in Cupertino, California, where it has unveiled new versions of the iPhone, AirPods and Apple Watch. AppleApple just unveiled the iPhone 16 Pro and the iPhone 16 Pro Max, which join the iPhone 16 and iPhone 16 Plus announced earlier. Apple’s iPhone 16 Pro has a 6.3-inch display, and the Apple 16 Pro Max has a 6.9-inch display, larger than those of previous models, which measured in at 6.1 inches and 6.7 inches, respectively. The iPhone 16. The iPhone 16 Pro starts at $999, and the Pro Max starts at $1,199, Apple said.

Persons: Max, ” Apple, —, Apple, Pro Max Organizations: Apple, Apple Watch, Apple Apple, Apple Intelligence, Pro Locations: Cupertino , California

☆ Here’s everything Apple just announced: iPhone 16, iPhone 16 Pro, Apple Watch Series 10, AirPods 4
▼ + stars: | 2024-09-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere’s everything Apple just announced: iPhone 16, iPhone 16 Pro, Apple Watch Series 10, AirPods 4Apple hosts its annual hardware event on Monday in Cupertino, California

Organizations: Apple Locations: Cupertino , California

☆ Apple is losing ground in China. Here's how the iPhone 16 can help.
▼ + stars: | 2024-09-07 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Wang Gang/Getty ImagesIt's worth noting that in its 15-year history with the iPhone in China, Apple has been the dominant force in the smartphone market. Other local smartphone manufacturers, including Honor, Xiaomi, and Vivo, have also seen gains over the past year. The upcoming iPhone 16 will introduce users to Apple Intelligence, its new suite of generative AI features, first introduced at its June Worldwide Developers Conference. Apple is betting on Apple Intelligence to boost iPhone sales. The company is seeking a local partner to bring more advanced chatbot features to Apple Intelligence in China.

Persons: —, Tim Cook, It's, Wang Gang, Apple, Xiaomi, Cook, ChatGPT, Wedbush, Paolo Pescatore Organizations: Service, Apple, Weibo, Business, China Apple, Huawei, Pura, Apple Intelligence Apple, Apple Intelligence, Foresight Locations: China, Shanghai, He'll, Cupertino

☆ AI gadgets have been a bust so far. Apple aims to change that
▼ + stars: | 2024-09-05 | by ( Steve Kovach | ) www.cnbc.com time to read: +8 min

The system is called Apple Intelligence, and it'll be rolling out over the coming months. Apple plans to roll out Apple Intelligence in stages. Plus, app developers will be able tap into Apple intelligence, so you can use it everywhere on your phone. In the PC market, Microsoft's Copilot+ PCs launched this summer, but without their marquee AI feature, Recall. Without Recall, there's not much AI in this batch of AI PCs.

Persons: they've, Nabila Popal, they'll, Canalys, Gerrit Schneemann, Tim Cook, Nic Coury, supercharge Siri, Schneemann, IDC's Popal, Popal, it's, there's, Alex Katouzian, Katouzian, Corie Barry, Jaque Silva Organizations: Microsoft, Meta, Google, Nvidia, Apple, Samsung, Dell, HP, Qualcomm, Apple Intelligence, Will Apple Intelligence, IDC, Counterpoint Technology, Developers Conference, Afp, Getty, Motorola, Gemini Locations: China, U.S, Cupertino , California

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Qualcomm, Robinhood, Starbucks, Disney & more
▼ + stars: | 2024-08-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest calls on Wall Street: UBS reiterates Nvidia as buy UBS said it's sticking with Nvidia shares heading into earnings later this month. Wolfe downgrades Qualcomm to peer perform from outperform Wolfe said Apple's internal modem use is finally having an effect on Qualcomm. Jefferies upgrades Par Technology to buy from hold Jefferies said it's bullish on shares of the "pure-play" restaurant tech platform. " Deutsche Bank upgrades Eli Lilly to buy from hold Deutsche upgraded the stock following earnings last week. Bank of America upgrades Churchill Downs to buy from neutral Bank of America said it likes the racing company's growth pipeline.

Persons: Morgan Stanley, Disney, it's, Wolfe, Qualcomm, Wedbush, it's bullish, Jefferies, Walmart Evercore, Piper Sandler, Piper, HOOD, Goldman Sachs, Mills, Goldman, Canaccord, Mizuho, Cummins, Wells, PRU, Eli Lilly, Churchill, Jim Anderson Organizations: UBS, Nvidia, RBC, Ardent Health, Ardent Health Partners, Inc, Qualcomm, Jefferies, Technology, Walmart, HSBC, GE Vernova, GE, Micron, MU, Elliott, Bank of America, Liberty Global, underperform Bank of America, Liberty, Prudential, Allstate, Deutsche Bank, Deutsche, of America, " Bank of America Locations: Asia, Cupertino, Wells, Churchill

☆ Apple leads tech rout after Berkshire Hathaway sells more than half of its stake
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Apple stock plunged as much as 11% on Monday on news that Berkshire Hathaway sold about 50% of its stake. Warren Buffett's conglomerate sold about 390 million Apple shares in the second quarter. The decline in Apple shares, which was double the Nasdaq 100's decline of about 5%, came after it was revealed over the weekend that Warren Buffett's Berkshire Hathaway sold about 50% of its Apple stake. According to its second-quarter earnings report, Berkshire Hathaway sold about 390 million Apple shares during the quarter, which is on top of the 115 million Apple shares it sold during the first quarter of the year. This is an opportunity, especially going into what I view as a really historic upgrade cycle for Apple," Ives said.

Persons: Berkshire Hathaway, Warren Buffett's, —, Warren, Buffett, Cathy Seifert, Dan Ives, Ives, It's Organizations: Apple, Berkshire, Service, CFRA, CNBC Locations: Berkshire, Cupertino

☆ Wall Street seems to love Apple's latest guidance on the new iPhone and Chinese demand
▼ + stars: | 2024-08-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Wall Street is even more bullish on Apple after its second-quarter earnings beat analyst expectations. Analysts are focused on a rebound in Chinese iPhone sales and the new iPhone 16. Ives raised his Apple price target to $285 from $275, representing an upside of 30% from Thursday's close. Apple offered guidance for the third quarter, with revenue expected to jump 5% year over year, ahead of Wall Street expectations for revenue growth of 4.3%. Ng raised his Apple price target to $275 from $265, arguing that the iPhone maker was "on the cusp of a multi-year replacement cycle for iPhone."

Persons: Wedbush, —, Dan Ives, Ives, Goldman Sachs, Michael Ng, Ng Organizations: Apple, Service, Cook, iPhone, Apple Intelligence, Products Locations: China, Thursday's, Cupertino

☆ Apple set to report fiscal third-quarter earnings after the bell
▼ + stars: | 2024-08-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

Apple CEO Tim Cook attends the annual developer conference event at the company's headquarters in Cupertino, California, U.S., June 10, 2024. Apple's third quarter, which ends in June, is traditionally the company's slowest quarter of the year by sales. This year, the "main event" won't be Apple's earnings, wrote Barclays analyst Tim Long, it's what the company says about the September quarter, which is nearly one-third over. Apple revealed Apple Intelligence in June, and the first preview version of some features was released earlier this week. JPMorgan analyst Samik Chatterjee expects Apple to reassure investors that the coming iPhone replacement cycle will include better-than-expected revenue, thanks to AI.

Persons: Tim Cook, Tim Long, Apple doesn't, Long, Raymond James, Srini Pajjuri, Samik Chatterjee, Chatterjee, Apple, Wamsi Mohan, Atif Malik Organizations: Apple, Barclays, Apple Intelligence, Nvidia, JPMorgan, Services, Bank of America Securities, Huawei, IDC, Citi Locations: Cupertino , California, U.S, China

☆ What can drive Apple stock from here? Much more than the iPhone maker's earnings next week
▼ + stars: | 2024-07-26 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Any commentary on initial interest in Apple Intelligence will determine where shares go next. As of Wednesday, Apple stock gained about 13% year to date — just shy of the S & P 500 's 2024 performance. The bull/bear debate on Apple depends on whether the benefits of Apple Intelligence are "priced in" at current levels. Yes, the iPhone will be the greatest, most direct way for Apple to realize financial benefits from Apple Intelligence in the near term. Apple will announce plans to incorporate artificial intelligence (AI) into Apple software and hardware.

Persons: There's, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Apple, Big Tech, Developers, Apple Intelligence, Barclays, JPMorgan, CNBC, Apple Worldwide Developers Locations: what's, geolocation, Cupertino , California

☆ Why Apple hopefuls are so desperate to get a job there
▼ + stars: | 2024-07-16 | by ( Jordan Hart | ) www.businessinsider.com time to read: +6 min

Read previewLanding a corporate job at Apple is such a big deal for tech workers that some seek out career coaches to help get interviews. Apple is seen as a place where workers 'push boundaries'Apple positions itself as providing more than just a job. AdvertisementAs with its products, Apple has worked to brand itself as having a more playful and curious environment than its competitors. Related storiesEven Apple Park, the company's headquarters in Cupertino, California, has earned the nicknames "the spaceship" and "the ring" for its futuristic circular design. Another Apple hopeful posted that they were "getting desperate" for a job at the company and had applied for 60 jobs in one day.

Persons: —, Marc Cenedella, Steve Jobs, Cenedella, They've, Apple, Ehsan Farkhondeh, Arianny Mercedes, they'd, Theresa Park, Mercedes, Dan Ives, Apple's, Drew Evans, Evans Organizations: Service, Apple, Business, Wedbush Securities, American Express, Employees, Spotify, Apple Intelligence Locations: Silicon, Cloud, Cupertino , California

☆ Apple releases iOS 18 public beta for iPhone — Here's what's new and how to get it
▼ + stars: | 2024-07-15 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Tim Cook, chief executive officer of Apple Inc., during the Apple Worldwide Developers Conference at Apple Park campus in Cupertino, California, US, on Monday, June 10, 2024. Apple on Monday released a preview version of its big new iPhone update. This year, however, the most important new service isn't in the public beta: Apple Intelligence. Apple says that Apple Intelligence will be released in a beta version this fall and users will be able to try it out this summer. Some of the promised Apple Intelligence features, like ChatGPT integration, and some Siri improvements, aren't expected to be released until later this year.

Persons: Tim Cook, Siri Organizations: Apple Inc, Apple Worldwide, Apple, Apple Intelligence, Control Center Locations: Cupertino , California

☆ Apple stock has 17% upside because the AI revolution will have to run through its hardware, Wedbush says
▼ + stars: | 2024-07-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Apple's upcoming AI upgrade will trigger a surge of app interest, Wedbush Securities said. Its new Apple Intelligence will make the firm the "gatekeeper" of AI customers, the note said. Meanwhile, the iPhone 16 upgrade will prompt an upgrade cycle this fall. Encouraging the outlook is an improving demand in China, and an iPhone growth turnaround will likely begin by September, he said. The "massive" upgrade cycle puts Apple on route to a $4 trillion market capitalization.

Persons: —, Dan Ives, Ives, Steve Eisman Organizations: Wedbush Securities, Apple Intelligence, Service, Apple, Worldwide, Conference, Google, Ives, CNBC Locations: that's, Cupertino, It's, China, Asia

☆ How CEOs like Bernard Arnault and Tim Cook decorate their offices
▼ + stars: | 2024-07-07 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

Read previewFrom priceless artwork to "Star Wars" memorabilia, you can tell a lot about a chief executive by how they decorate their office. Their high salaries, and even higher net worths, mean CEOs have the power to deck their workspaces out with more than everyday knickknacks. Here's how they decorate the spaces where they run their companies,AdvertisementBernard ArnaultLVMH CEO Bernard Arnault's office design matches the luxury empire her runs. ERIC PIERMONT/AFP/Getty ImagesWith a net worth of $201 billion, according to Bloomberg, LVMH top boss Bernard Arnault has very expensive taste. Tim CookApple CEO Tim Cook pays homage to Robert F. Kennedy with his office decor.

Persons: —, Mark Zuckerberg, Salesforce's Marc Benioff, Bernard Arnault, Bernard Arnault's, ERIC PIERMONT, Louis Vuitton, Dom Pérignon, Dior, Andy Warhol, Tim Cook, Robert F, Kennedy, Justin Sullivan, Jenny Chang, Rodriguez, Cook, Marc Benioff, Kevin Dietsch, Forbes, Benioff, Princess Leia, Darth Maul, Sully, Mark Zuckerberg Mark Zuckerberg, Jeff Bottari, Zuckerberg, didn't, We've, it's Organizations: Service, Business, Getty, Bloomberg, Eiffel, Apple, Auburn University, UFC, Facebook Locations: AFP, Paris, Alabama, Cupertino, mater, Hawaii, San Francisco, Las Vegas

☆ Tractor Supply Co. backtracks on DEI roles and goals
▼ + stars: | 2024-06-29 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +6 min

New York CNN —Tractor Supply Company has eliminated its diversity, equity and inclusion initiatives as part of what the retail chain says is a push to distance itself from “nonbusiness activities” after conservative backlash from some of its customer base. “You can’t say you’re going to try to do at Tractor Supply what they do at the Apple headquarters in Cupertino, California — that’s definitely not going to work,” he said. “Tractor Supply Co is turning its back on their own neighbors with this shortsighted decision,” Eric Bloem, vice president of Programs and Corporate Advocacy at the Human Rights Campaign, told CNN in a statement Saturday. This is why the Tractor Supply — and most of the country’s biggest employers — have worked with us for years to create inclusive policies and practices. Those are the parts that business leaders aren’t thinking about as they are folding on DEI.”

Persons: ”, “, Robby Starbuck, Starbuck, X, ” Shaun Harper, Harper, that’s, ” Eric Bloem, —, Bud Light’s, influencer Dylan Mulvaney Organizations: New, New York CNN — Tractor Supply Company, Supply, Tennessee’s, Congressional, Tractor Supply, University of Southern, CNN, Tractor, National FFA Organization, Apple, ”, Human Rights, “, Companies, Anheuser, Busch InBev, Target Locations: New York, University of Southern California, Brentwood , Tennessee, Cupertino , California, United States

☆ College dropouts raise $120 million to take on Nvidia's AI chips
▼ + stars: | 2024-06-25 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

A 2-year-old startup founded by Harvard dropouts has just raised $120 million in venture funding to try and build a competitive chip and take on Nvidia in artificial intelligence. Co-founder and CEO Gavin Uberti said that as AI develops, most of the technology's power-hungry computing requirements will be filled by customized, hard-wired chips called ASICs. "We're making the biggest bet in AI," Uberti said in an interview. Other chip startups taking on Nvidia include Cerebras Systems, which is building a physically larger AI chip, and Tenstorrent, which is using a trendy technology called RISC-V to build AI chips. Venture capitalists invested $6 billion in AI semiconductor companies in 2023, up slightly from $5.7 billion in 2022, according to data from PitchBook.

Persons: Gavin Uberti, Uberti, we'll, Peter Thiel, Stanley Druckenmiller, Kyle Vogt, we've, Robert Wachen Organizations: Nvidia, Harvard, Apple, Venture Partners, Cerebras Systems, Semiconductors, Taiwan Semiconductor Manufacturing Co, Venture Locations: Cupertino , California, PitchBook

☆ EU allegations against Apple are worrisome but not a game-changer for the stock
▼ + stars: | 2024-06-24 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

Apple could face EU fines of up to 10% of the company's total global revenue if found in violation of the DMA's competition policies. Ultimately, though, JPMorgan analysts said Monday that Apple's AI features delay overseas would have little impact on financials. AAPL YTD mountain Apple YTD Overall, Apple stock has had a rocky 2024 performance. Apple CEO Tim Cook delivers remarks at the start of the Apple Worldwide Developers Conference (WWDC) on June 10, 2024 in Cupertino, California. Apple will announce plans to incorporate artificial intelligence (AI) into Apple software and hardware.

Persons: Apple, Jim Cramer, it's, Jim, Melius, Siri, Pro Max, Jim Cramer's, Tim Cook, Justin Sullivan Organizations: Apple, European Union, CNBC, JPMorgan, The Club, Huawei, Developers, Pro, Apple Worldwide Developers Locations: Europe, Apple's, China, Cupertino , California

☆ Apple's biggest challenges to bring its AI products to China
▼ + stars: | 2024-06-21 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple's biggest challenges to bring its AI products to ChinaApple will face a number of challenges as it looks to bring Apple Intelligence to China due to Beijing's strict rules around AI. CNBC's Arjun Kharpal breaks down the hurdles the Cupertino giant faces.

Persons: CNBC's Arjun Kharpal Organizations: China Apple, Apple Intelligence Locations: China, Cupertino

☆ Apple Intelligence won't launch in EU in 2024 due to antitrust regulation, company says
▼ + stars: | 2024-06-21 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Tim Cook, chief executive officer of Apple Inc., during the Apple Worldwide Developers Conference at Apple Park campus in Cupertino, California, US, on Monday, June 10, 2024. Apple said Friday it won't release three recently announced features, including its flagship "Apple Intelligence" AI product, in the European Union in 2024 due to "regulatory uncertainties" stemming from the bloc's Digital Markets Act antitrust regulation. Apple Intelligence can proofread writing or even rewrite it in a friendly or professional tone. Apple saw 2023 net sales of $94.3 billion in Europe, just under a quarter of its worldwide net sales. Apple Intelligence also won't be available in Greater China, which accounted for $72.6 billion of its 2023 sales.

Persons: Tim Cook, Apple Organizations: Apple Inc, Apple Worldwide, Apple, Apple Intelligence, European Union, bloc's, EU, Microsoft, OpenAI, European Locations: Cupertino , California, Europe, Greater China

☆ Marathon, not a sprint: Apple's AI push faces big challenges in China
▼ + stars: | 2024-06-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTThe Apple Siri AI icon is being displayed on a smartphone, with Apple Intelligence in the background. Apple Intelligence is the Cupertino giant's play that aims to bring AI across its devices. Apple's China AI challengesNavigating these rules will be tricky for Apple. "Localising the Apple Intelligence experience will be a major challenge for Apple," Wood told CNBC. CCS Insights' Wood said Apple's focus on privacy could help introduce AI features to the market.

Persons: Siri, Jonathan Raa, Apple, Bryan Ma, Nicole Peng, Ben Wood, Wood, Neil Shah Organizations: Apple Intelligence, Nurphoto, Getty, Huawei, CNBC, Apple, IDC, Baidu, Insight, Counterpoint Research Locations: China, Beijing, Cupertino

☆ How Apple, Microsoft and 3 other tech giants can make money with AI geared to consumers
▼ + stars: | 2024-06-16 | by ( Morgan Chittum | ) www.cnbc.com time to read: +10 min

(Expected AI-driven device upgrades from Apple, Microsoft, and other personal tech makers is the reason we're invested in Best Buy . Microsoft, Apple and fellow Club name Nvidia have all eclipsed $3 trillion market values — and have been wrestling for the top spot as the most valuable U.S. company. META YTD mountain Meta Platforms (META) year-to-date performance Meta Platforms is monetizing consumer interest in AI by boosting user engagement. The Meta AI generative artificial intelligence assistant is currently free to use. AMZN YTD mountain Amazon (AMZN) year-to-performance Comparable to Meta, Amazon offers AI to consumers for free to increase engagement on its dominant e-commerce platform.

Persons: Tim Cook, Siri, Apple, WWDC, Piper Sandler, Jim Cramer, Bard, Missteps, Jim, Jim Cramer's, Eugene Mymrin Organizations: Apple, Apple Intelligence, Developer Conference, Microsoft, Services, Cook, Co, AI Party, Bloomberg, Microsoft's, Computing, Club, Nvidia, Gmail, Google, ChatGPT, Facebook, Citi, Meta, Amazon, Amazon Web Services, CNBC Locations: China, Cupertino, U.S

☆ The complicated partnership between Apple and OpenAI
▼ + stars: | 2024-06-14 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

Nearly an hour later, the iPhone maker announced a much-rumored partnership with OpenAI to bring its ChatGPT technology to devices later this year. “I think Apple will take a pragmatic approach to the OpenAI partnership,” Wood said. Apple said it will not share any personal user information with OpenAI, so inquiries made through ChatGPT won’t be linked to an Apple user’s account. So it came as no surprise when some industry watchers, including Elon Musk, were quick to react to Apple’s partnership with OpenAI. “When users do query ChatGPT, Apple will track the prompts and gather metrics to improve its own models,” he said.

Persons: Sam Altman, Steve Wozniak, OpenAI, Altman, Tim Cook, ”, Ben Wood, “ Apple, Siri, Apple, ” Wood, Jeff Chiu, It’s, ” Cook, it’ll, Wood, Reece Hayden, Elon Musk, Musk, ” Musk, Annette Zimmermann, ” Andrew Cornwall, Forrester, “ Organizations: CNN, Apple, Insight, Apple Intelligence, Nvidia, Microsoft, ChatGPT, ABI Research, Industry, OpenAI, SpaceX, Gartner Locations: China, Washington, Cupertino , Calif

☆ Apple shares pop to record high after company unveils AI software
▼ + stars: | 2024-06-11 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Apple CEO Tim Cook gestures during the annual developer conference event at the company's headquarters in Cupertino, California, U.S., June 10, 2024. Apple shares popped 5% to a new record high of around $203 per share on Tuesday, a day after the company announced its long-awaited push into artificial intelligence at its annual developer conference on Monday. The company pitched the features as AI for the average person, though users will likely need to upgrade their iPhones to access the tools. The company's developer conference came as a welcome sign for investors who have been watching to see how Apple will capitalize on the ongoing AI boom. Analysts from Morgan Stanley said Apple's AI features strongly position the company with "the most differentiated consumer digital agent."

Persons: Tim Cook, Apple, Siri, OpenAI's ChatGPT, Morgan Stanley, iPhones, — CNBC's Michael Bloom Organizations: Apple, Bank of America, Apple Intelligence Locations: Cupertino , California, U.S

☆ 5 things to know before the stock market opens
▼ + stars: | 2024-06-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

At Apple's annual Worldwide Developers Conference on Monday, the company unveiled "Apple Intelligence" – its long-awaited AI software. Apple CEO Tim Cook stressed privacy and personalization with the system, moving beyond AI into "personal intelligence." Siri will also be getting some upgrades with Apple Intelligence, and Apple announced that Siri will also be able to tap into ChatGPT when needed through the company's partnership with OpenAI. The activist hedge fund has taken a $1.9 billion stake in Southwest Airlines , which makes it one of the airline's biggest investors. This follows a number of other stakes the firm has built within the past two months, such as a $2.5 billion stake in Texas Instruments, a $2 billion stake in SoftBank and a $1 billion stake in Anglo American.

Persons: Tim Cook, John Giannandrea, Craig Federighi, Nic Coury, Siri, Elliott, Gary Hershorn, it's, Bob Jordan, Gary Kelly, Fred Tanneau, Stephane Bancel, Francis Scott Key, Michael A Organizations: Nasdaq, Dow Jones, Nvidia, Apple, Developers, AFP, Getty, Apple Intelligence, OpenAI, Max, Southwest Airlines, Hollywood International Airport, Corbis, Elliott Management, Texas, Moderna, Afp, Francis Scott Key Bridge, McCoy, Washington Post Locations: Cupertino , California, Fort Lauderdale, Fort Lauderdale , Florida, SoftBank, U.S, Baltimore

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