The title of “World’s Most Valuable Company” apple once again.
As of mid-afternoon on Wednesday (June 12), the iPhone maker’s market cap was $3.38 trillion, surpassing Microsoft’s (market cap of $3.29) for the first time in months.
Apple’s stock price began to rise at the beginning of the week after the company reported its annual earnings. Developer ConferenceAt the event, the tech giant unveiled a range of artificial intelligence (AI) features for its devices.
” Apple’s Delay The questions from the perspective of AI technology were addressed at the Worldwide Developers Conference. Michael JamesManaging Director, Equities Trading Wedbush Securities He told Reuters in Los Angeles.
“Looking at the details of the AI features that will be included in future iPhones, clearly There is demand for a significant upgrade cycle.”
Microsoft overtakes Apple to become number one in the world Most Valuable Companies Earlier this year, Own The AI investments marked a reversal of fortunes for the longtime rivals, with Apple being the first company to reach a $10 billion market cap thanks to its AI investments. Over $1 trillionand $2 trillion.
and Last week, semiconductor manufacturers NVIDIA Pushing Apple down to third place Over $3 trillion Benefiting from the AI boom, its market capitalization hit an all-time high.
However, Apple’s position in the US mobile phone market is Big Benefits Experts spoke to PYMNTS earlier this week about the adoption of AI capabilities.
“Apple’s dominant position in the U.S. mobile phone market with 60 percent share gives it a significant advantage in deploying AI capabilities that seamlessly improve its core products and user experience,” he said. Sunil RaoCEO and Co-Founder of Tribble“This consolidation will have a significant impact on consumer behavior and market competition.”
As AI becomes more integrated into Apple’s operating system, consumers may begin to prefer this approach over using specific AI apps.
“This creates stronger competition for certain apps, but still offers the possibility to have Siri handle complex tasks through third-party apps.” Bohdan HomichHead of R&D Commercialization at a software development company Soft Servesaid PYMNTS.
“From an underlying model perspective, only the GPT integration was announced, but we expect Gemini to happen this year,” Homich added. Google AI model.
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